Last checked at 19 Jul 2023 07:00
For immediate release | 19 July 2023 |
Watkin Jones plc
('Watkin Jones' or the 'Group')
Board Change
Watkin Jones today announces that Richard Simpson has stepped down from his role as Chief Executive Officer. The Board has asked Alex Pease, the Group's Chief Investment Officer, to take on the role of Interim Chief Executive, with effect from 19 July 2023, whilst a formal process is undertaken to confirm a permanent CEO appointment. During this period, Alex, who has led the Watkin Jones' investment activities since 2013 and joined the Board in 2022, will head the Group executive team working closely with Sarah Sergeant, Chief Financial Officer.
Alan Giddins, Chair of Watkin Jones, said: "On behalf of the Board, I would like to thank Richard for his contribution to the Group over the last five years and in particular his leadership of the business through the challenges of the COVID pandemic.
"Alex has been a key member of the Group's executive leadership team for the last 10 years and was most recently appointed to the Board as Group Chief Investment Officer. In taking on the role of Interim CEO, Alex provides both continuity, in what remains a very challenging backdrop for the sector, as well as significant experience in the residential for rent market which the Board believes will help enable the Group to regain momentum ahead of market conditions improving."
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This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR")
For further information:
Watkin Jones plc |
| |
Alan Giddins - Chair Alex Pease - Interim Chief Executive Officer Sarah Sergeant - Chief Financial Officer | Tel: +44 (0) 20 3617 4453 | |
www.watkinjonesplc.com | ||
Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker) |
Tel: +44 (0) 20 7418 8900 | |
Mike Bell / Ed Allsopp | www.peelhunt.com | |
Jefferies Hoare Govett (Joint Corporate Broker) |
Tel: +44 (0) 20 7029 8000 | |
James Umbers/David Sheehan / Paul Bundred
| www.jefferies.com | |
Media enquiries:
Buchanan |
|
Henry Harrison-Topham / Jamie Hooper | Tel: +44 (0) 20 7466 5000 |
watkinjones@buchanan.uk.com | www.buchanan.uk.com |
Notes to Editors
Watkin Jones is the UK's leading developer and manager of residential for rent, with a focus on the build to rent, student accommodation and affordable housing sectors. The Group has strong relationships with institutional investors, and a reputation for successful, on-time-delivery of high quality developments. Since 1999, Watkin Jones has delivered 48,000 student beds across 143 sites, making it a key player and leader in the UK purpose-built student accommodation market, and is increasingly expanding its operations into the build to rent sector. In addition, Fresh, the Group's specialist accommodation management business, manages over 22,000 student beds and build to rent apartments on behalf of its institutional clients. Watkin Jones has also been responsible for over 80 residential developments, ranging from starter homes to executive housing and apartments.
The Group's competitive advantage lies in its capital-light business model, which enables it to offer an end-to-end solution for investors, delivered entirely in-house with minimal reliance on third parties, across the entire life cycle of an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with the ticker WJG.L. For additional information please visit www.watkinjonesplc.com