Barratt Redrow Regulatory News (BTRW)

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO, INTER ALIA, THE REQUIREMENTS OF RULE 19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE")

15 April 2025

Barratt Redrow plc: Changes to the Board

Barratt Redrow plc ("the Company") announces that, with the operational integration of Barratt and Redrow nearing completion, Matthew Pratt will be stepping down from the Board and his position as Redrow Chief Executive on 30 June 2025. He will remain available to the Company until 31 December 2025.

With Matthew stepping down and, as previously announced, Steven Boyes retiring on 6 September 2025, the Executive Directors on the Board from that point will be David Thomas as Chief Executive Officer and Mike Scott as Chief Financial Officer.

David Thomas, Group Chief Executive Officer, said:

"Following a successful 22 year career at Redrow plc, including five years as CEO prior to the combination, Matthew has had a key role in the smooth and effective integration of Barratt and Redrow. I would like to thank him for his valuable contribution to the combined business."

Matthew Pratt, Redrow Chief Executive and Group Board Director, said:

"It has been a privilege to work alongside such talented and committed colleagues, and I am deeply grateful for their role in shaping Redrow into one of the UK's leading housebuilders. As we approach the final stages of operational integration, I am immensely proud to have contributed to the coming together of these two exceptional businesses. I wish Barratt Redrow every success as it embarks on this exciting new chapter."

As required under Rule 19.6(b) of the Code, this announcement also serves as an update of the post-offer intention statements that Barratt Developments plc ("Barratt") made pursuant to Rules 2.7(c)(viii) and 24.2(a)(ii) to (iii) of the Code, in its announcement of 7 February 2024 and the scheme document published in connection with the all-share combination of Barratt and Redrow plc which completed on 21 August 2024. Those documents stated that Matthew, who was then Group Chief Executive of Redrow, would join the Combined Group and assume the roles of Chief Executive Officer, Redrow, and Group Executive Director. That appointment took effect on 4 October 2024 following the United Kingdom's Competition and Markets Authority acceptance of undertakings in lieu of a reference to a Phase 2 investigation. As the operational integration of Barratt and Redrow nears completion, Matthew will step down from those roles on 30 June 2025.

Notes to Editors

Matthew Pratt's remuneration will be published on the Company's website in accordance with section 430(2B) of the Companies Act 2006, and in the Company's Annual Report and Accounts in due course. 

For further information, please contact:

Barratt Redrow plc LEI: 2138006R85VEOF5YNK29

The Group's next scheduled announcement will be a trading update on Wednesday 16 April 2025.