Persimmon Regulatory News (PSN)

26 February 2019

Persimmon plc

("Persimmon" or "the Company")

David Jenkinson appointed Group Chief Executive

Persimmon plc announces today that following a detailed search process, David Jenkinson has been appointed Group Chief Executive with immediate effect.

Dave was appointed interim CEO in November 2018. Dave has been with Persimmon in a number of roles for 22 years, most recently as Group Managing Director, and has been instrumental in the development and implementation of many of the successful operational initiatives which have underpinned the Group's robust performance in recent years. He has been a member of the Persimmon board for over five years, with particular responsibility for land purchase.

Roger Devlin, Persimmon's Chairman, said: "After a thorough search, both within the housebuilding sector and more widely, it was clear to the Board that Dave was the best candidate for the role. Since his appointment as interim CEO last year Dave has shown both strong leadership in maintaining the Company's track record of operational excellence but also that he is listening carefully to the views of all our stakeholders. Persimmon remains committed to its goal of being the leading volume builder of good value, traditional family homes throughout the UK." 

David Jenkinson said: "Persimmon is a great company with a bright future and I am honoured to have been asked to lead it. My priorities will be to maintain the strong operational and financial momentum of the business, to develop further our customer care operations and to bring a greater focus to our wider responsibilities as a leading UK house builder. We have a strong and committed team and I look forward to continuing to work with all my colleagues to deliver the high quality, attractively priced homes that the UK needs."

Remuneration Arrangements

Dave Jenkinson has agreed that there will be no change to his remuneration upon his appointment as Group Chief Executive. It has also been agreed that Dave will not participate in annual bonus arrangements in 2019 and will not receive an award under the Group's 2017 Share Performance Plan. As previously announced, Dave's remuneration did not change when he was appointed interim Group Chief Executive. The Remuneration Committee expects to implement a new remuneration package for Dave from 1 January 2020, we expect to consult with major shareholders on this in autumn 2019.

The Company has today separately announced its full year results for the year ended 31 December 2018. 

This announcement contains inside information. 

Classification: Inside information

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