Last checked at 26 Jun 2009 07:01
The Berkeley Group Holdings plc
PRESS RELEASE
BERKELEY ANNOUNCES CHANGES TO ITS BOARD COMPOSITION
Berkeley today announces a number of Board changes which together represent the implementation of a full succession plan and ensure the orderly evolution of the Board.
Victoria Mitchell will step down as Chairman and become deputy Chairman and an independent non executive director of the Group from the date of the Annual General Meeting on 9th September 2009.
Victoria Mitchell will be succeeded as Chairman by Tony Pidgley, co-founder of Berkeley and Group Managing Director for the last 33 years.
Rob Perrins, 44, who joined Berkeley 15 years ago and is currently Finance Director of the Group, will succeed Tony Pidgley as Group Managing Director.
Joining the Board at the AGM will be Nick Simpkin and Karl Whiteman. Nick, 39, has been with Berkeley since 2002 and has held a number of senior finance positions including Finance Director of St James. Currently Head of Finance for Berkeley, Nick will be the new Finance Director. Also joining the Board will be Karl Whiteman, 44. Karl joined Berkeley in 1996 and currently leads the largest Berkeley Homes division and chairs the Group's Sustainability and Health & Safety committees. He will join the Main Board as a Divisional Executive Director.
Following these changes, the Board will comprise a Chairman, five Executive Directors and four Non-Executive Directors. As a consequence Berkeley will look to appoint a fifth non-executive Director to achieve the balance envisaged by the Combined Code.
These appointments have the unanimous support of the Directors and have been made after consultation with representatives of Berkeley's major institutional investors.
Victoria Mitchell, commented "As Chairman, I am delighted to announce the implementation of a succession plan which will secure the evolution of the Board of Berkeley. The results announced today show that Berkeley is in tremendous shape. This is a testament to Tony Pidgley's outstanding contribution as Group Managing Director for the last 33 years. The decision to appoint Tony Pidgley as Chairman from his current role as Group Managing Director takes into consideration the value to the Group of Tony's extensive experience and pre-eminent standing in the industry together with his understanding of the Group's culture and knowledge of the sector. The continuing and full time commitment of Tony to Berkeley is welcomed and will allow the business to deliver its repositioned strategy announced in February. The Board have also taken into consideration the need for the Chairman and Group Managing Director to be able to work closely and effectively and in Rob Perrins, the Board has both an outstanding and natural successor to Tony as Group Managing Director.
I am also delighted to announce the appointment to the Board of Nick Simpkin and Karl Whiteman. That both appointments are from internal candidates is evidence of the strength in depth of Berkeley's management and I welcome them to the Board, the first new appointments to the executive team since 2001.
It has been an enormous privilege to be Chairman of Berkeley and to oversee the orderly succession of the Board and put in place the right structure for the Group for the future."
For further information please contact:
The Berkeley Group Holdings plc Cardew Group
A W Pidgley Tim Robertson
R C Perrins Catherine Maitland
T: 01932 868555 T: 0207 930 0777