– UK, Chertsey – Crest Nicholson Holdings PLC (LON: CRST), announces that following an extensive search process Iain Ferguson has been appointed independent Non-Executive Chairman. He joins the Board on 16 September 2019 as Non-Executive Chairman designate and will become Non-Executive Chairman on 1 November 2019 at the commencement of our new financial year. Stephen Stone steps down from the Board on 31 October 2019.
Iain Ferguson is a highly experienced public company Chairman, Non-Executive Director and former FTSE 100 CEO. He brings a unique blend of board and business leadership experience across a range of sectors and industries, including previous roles as Non-Executive Chairman of the Stobart Group, Senior Independent Director of Balfour Beatty plc and Chief Executive of Tate & Lyle plc.
Stephen moved from Chief Executive to Executive Chairman in March 2018 and latterly to Non-Executive Chairman in April 2019 and has overseen the implementation of the current strategy and appointment of a new executive management team. Stephen and the Board feel that it is the appropriate time for him to step down from the Board and be succeeded by an Independent Non-Executive Chairman.
Stephen Stone, Chairman, said: “It is a privilege to have served as Chief Executive and then Chairman of this great Company and to have worked with many exceptional people to create so much value for shareholders, employees and the communities where we operate.”
Iain Ferguson, Chairman-designate, said: “Crest Nicholson is an outstanding company, with a passion for not just building homes, but also for creating vibrant sustainable communities. I am looking forward to working with Peter Truscott, our new Chief Executive and the wider management team and the Board in the next phase for Crest Nicholson.”
Leslie Van de Walle, Deputy Chairman and Senior Independent Director said: “I would like to pay tribute to Stephen’s leadership and immense contribution to Crest Nicholson’s success over many years both as Chief Executive and Chairman and as a leader in the industry. We are delighted to have secured Iain as Chairman. His impressive track record makes him ideally suited to lead the next phase of Crest Nicholson’s future.”
About Iain Ferguson
Iain Ferguson was Chief Executive Officer of Tate & Lyle plc from 2003 until 2009.
Iain was Non-Executive Chairman of the Stobart Group Limited from 2013 to 2019. Iain served as Senior Independent Director of Balfour Beatty plc from 2012 to 2019 and previously as Non-Executive Director from 2010. He chaired Berendsen plc from 2012 to 2017 and previously as Senior Independent Director from 2010. He was Non-Executive Director at Greggs plc from 2009 to 2014. In addition, Iain was Lead Independent Director at the Department for Environment, Food and Rural Affairs, Chair of Wilton Park and a Member of the PricewaterhouseCoopers UK Advisory Board. He holds a BSc Hons in Chemistry & Psychology from St Andrews University and has the Harvard Business School Advanced Management Programme.
Iain currently serves as Non-Executive Director of Personal Assets Trust plc and is Pro-Chancellor at Cranfield University.
About Stephen Stone
Stephen Stone joined the Group in 1995 and was appointed to the Board in 1999 becoming Chief Executive on 1 November 2005 and Chairman in March 2018. Stephen has contributed greatly to the success of Crest Nicholson transforming the Company, successfully returning it to the public markets and generated substantial value for shareholders. Since Crest Nicholson’s IPO in 2013, housing completions have increased 39%, revenues and profits before tax have more than doubled and shareholders have enjoyed a Total Shareholder Return of 89%.
For more information: https://www.crestnicholson.com
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