Crest Nicholson Regulatory News (CRST)

23 January 2024

Crest Nicholson Holdings plc

(the 'Company', 'Group' or 'Crest Nicholson')

APPOINTMENT OF CHIEF EXECUTIVE

The Company announces the retirement of Peter Truscott as Chief Executive and member of the Board. Following a comprehensive search process, the Board is pleased to announce the appointment of Martyn Clark who will succeed Peter as Chief Executive. Martyn will assume the role later in the year and Peter will remain with the business from when Martyn joins until a handover process is completed.

Peter joined Crest Nicholson in 2019 as Chief Executive having worked in the sector for over 30 years. During his time, Peter repositioned the Group's strategy, led the business through the pandemic and restructured operations to adapt to changing market conditions.

Martyn Clark is currently the Chief Commercial Officer at Persimmon Plc. He has been with Persimmon for nine years in senior roles in the South Division including Regional Chairman before his appointment as Chief Commercial Officer in 2022. Prior to that he spent 28 years at Bloor Homes.

Iain Ferguson, Chairman, commented:

"Following Peter's decision to retire from his role as Chief Executive, I am delighted to announce that Martyn will be joining Crest Nicholson as Chief Executive. Martyn brings a wealth of experience in the housebuilding industry which will be of huge benefit to Crest Nicholson at this important time for the Group. We very much look forward to working with him.

I would also like to take this opportunity to thank Peter. Peter has led the Group through a very difficult and challenging period and has ensured that he hands over a business well positioned to take Crest Nicholson forward."

Martyn Clark, commented:

"I am looking forward to joining Crest Nicholson and working with the Board and wider team in the next phase of the Group's growth."

Peter Truscott commented: 

"I would like to thank the Board and my colleagues at Crest Nicholson. It has been a pleasure to work here and despite challenging market conditions in recent years, the Group has made good progress. I will leave the Group in good hands when Martyn joins later this year."

The Company confirms that there are no other matters requiring disclosure pursuant to LR 9.6.13R (1) to (6) in respect of the appointment.

Details of Martyn Clark's remuneration will be contained within the Directors' Remuneration Report to be published in the Group's Annual Report and financial statements in January 2025. 

For further information, please contact:

Crest Nicholson

Penny Thomas, Group Company Secretary +44(0)7977 851249

Jenny Matthews, Head of Investor Relations +44 (0)7557 842720

Teneo

James Macey White / Giles Kernick +44 (0)20 7353 4200