(Alliance News) - MJ Gleeson PLC on Wednesday said Chair Dermot Gleeson plans to step down on December 31, after 47 years on the board and 28 years as chair.
The Sheffield, England-based housebuilder and land investor said Chief Executive James Thomson will move to non-executive chair.
Thomson joined Gleeson in June 2019 as interim CEO and was promoted to the permanent role in December of that year.
Prior to Gleeson, Thomson was at private equity-owned housebuilder Keepmoat Homes for seven years from 2012 to 2019 as chief executive.
Back in April, Gleeson said that Thomson will step down as CEO at the end of 2022. It named Graham Prothero as his successor.
Prothero is currently chief operating officer of housebuilding peer Vistry Group PLC.
Gleeson expects to appoint an additional non-executive director by the end of 2022.
Senior Independent Director Fiona Goldsmith said: "The board would like to put on record its heartfelt thanks to Dermot for the enormous contribution to the business that he has made over many years and which have seen some of the most testing times experienced across the UK housebuilding sector. It was his vision that saw the business transformed into the UK's leading listed low-cost housebuilder and a business that can genuinely say that it changes people's lives."
Gleeson plans to issue a trading update on November 18, the date of its annual general meeting, and a trading update for the first half of financial year 2023 on January 13, 2023.
Shares in MJ Gleeson were down 0.6% to 386.67 pence each in London on Wednesday morning.
By Sophie Rose; sophierose@alliancenews.com
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