Directorate Change

RNS Number : 7251X

Redrow PLC

20 August 2009

 



Board Changes

The Board of Redrow plc is pleased to announce the following changes to the Board of the Company.  These changes follow on from the process to appoint a new Non-Executive Deputy Chairman and Senior Independent Director, this process being announced on 20 March 2009 when Steve Morgan, Chairman of Redrow, re-joined the Board.  

Alan Jackson has been appointed as Non-Executive Deputy Chairman and Senior Independent Director with effect from 19 August 2009.  Alan is Non-Executive Chairman of The Restaurant Group plc, Non-Executive Chairman of Luminar Group Holdings plc and a Non-Executive Director of Playtech plc. Alan is also on the board of several other non-public companies, including Charles Wells Limited. 

The Board also announces the appointment of Paul Hampden Smith and Debbie Hewitt as Non-Executive Directors with effect from 19 August 2009.  

Paul Hampden Smith is Group Finance Director of Travis Perkins plc, one of the UK's leading builders merchants and home improvement retailers. Paul has previously served as a Non-Executive Director and Chairman of the Audit Committee at DX Services plc and Polestar UK Ltd. Given Paul's relevant experience he will be appointed as Chairman of the Audit Committee.

Debbie Hewitt is a Non-Executive Director of Mouchel plc, Domestic and General Group, NCC plc, Luminar Group Holdings plc, Moss Bros plc, HPI Limited and HR Owen plc. She also sits on the Board of a Government department, the Office of Government Commerce. Given her extensive commercial and HR experience Debbie will Chair the Remuneration Committee of the Board.

The process to recruit the new Independent Non-Executive Directors was managed by the current Nominations Committee of the Board which solely comprised the Group’s current Non-Executive Directors and was led by Denise Jagger, interim Deputy Chairman. Alan Jackson will succeed Denise as Chairman of the Nominations Committee

Coinciding with the appointment of the new Non-Executive team Denise Jagger, Malcolm King and Bob Bennett, Redrow's current Non-Executive Directors have stepped down.

Following these changes the Committees of the Board will be as follows:

Nomination Committee

Alan Jackson (Chairman), Debbie Hewitt and Paul Hampden Smith

Remuneration Committee

Debbie Hewitt (Chairman), Alan Jackson and Paul Hampden Smith

Audit Committee

Paul Hampden Smith (Chairman), Alan Jackson and Debbie Hewitt

Corporate Responsibility Committee

Alan Jackson (Chairman), Colin Lewis and Nigel Smith 

Commenting on the appointments, Steve Morgan, Chairman of Redrow plc said:

'I would like to welcome Alan, Paul and Debbie to the Board of Redrow plc.  Their extensive experience will be important in continuing the drive to reinvigorate the business and help take the Group forward. I look forward to working with them in delivering value for all shareholders and re-establishing Redrow as one of the UK's pre-eminent developers of family housing.  I would like to thank Denise, Malcolm and Bob for their contribution to Redrow plc during their tenure on the Board.'

Alan Jackson, newly appointed Non Executive Deputy Chairman and Senior Independent Director said on behalf of the new directors:

'We are all excited to be joining the Board of Redrow plc and working with Steve and the rest of the management team. The business has endured some of the toughest markets witnessed in UK housebuilding and we look forward to supporting the process of re-building Redrow’s historic brand strength and pursuing the undoubted opportunities which will emerge in the market in the medium term to create value for Redrow investors.'

Denise Jagger, interim Deputy Chairman said: 

'I welcome the new appointments to the Board of Redrow plc. Their experience combined with existing strengths in the Boardroom will provide strong stewardship for the future of the business.  With the changes Steve is instigating across the business and having overseen the process for the appointment of the new Non Executive team, it is the appropriate time for me and the other Non Executives to step down and to allow the new Board to take the business forward.'

Contacts

David Arnold                            Redrow                                                            01244 520044

Susanna Voyle                          Tulchan Communications                                  020 7353 4200

  Notes to Editors - Further Biographical Details of Directors

Alan Jackson was formerly Managing Director of the Whitbread Restaurant Division, where he was responsible for the creation and development of the Beefeater, Travel Inns and TGI Friday brands. He founded Inn Business Group plc in 1995 which was subsequently acquired by Punch in 1999. He has also held Non-Executive Directorships in De Vere Group Plc and Regent Inns PLC.  

Debbie Hewitt has previously held a variety of executive roles, including the role of Managing Director of RAC plc and was a Non-Executive Director of De Vere Group Plc and The Alumasc Group plc.  

 

END

 

 

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