Bellway PLC - Newcastle Upon Tyne, England-based housebuilder - Group Finance Director Keith Adey announces that "the time is right to step down from his role and from the board"; he plans to retire from full-time executive work once Bellway appoints his successor. Adey's "successful career" includes 15 years at Bellway, where he started as group chief accountant in 2008 before rising to his current role in February 2012. Company says he will remain in post throughout the "thorough recruitment process" to select his replacement and through a "suitable handover" period, which it expects to complete in early 2025.
Company also announces the promotion of Group General Counsel & Company Secretary Simon Scougall, to join the board in the newly-created role of chief commercial officer, effective from August 1. Scougall joined Bellway in March 2011 and was promoted to his current role in February 2016.
Current stock price: 2,754.00 pence, down 0.9% in London on Tuesday morning
12-month change: up 12%
By Emma Curzon, Alliance News reporter
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Bellway (BWY)