McCarthy & Stone plc today announces that Mike Parsons will step down as an Independent Non-Executive Director from the Board and as a member of the Remuneration, Nomination and Risk & Audit Committees of the Board with effect from 31 October 2019.

Mike Parsons commented: "My increasing external commitments mean it is no longer possible for me to devote sufficient time to the Company, so I have taken the decision to step down. It has been a pleasure being a Non-Executive Director of the Group for the last six years and I have greatly enjoyed working with this experienced, talented and supportive Board in a time of considerable challenge in the sector. I wish the Company and the Board success in the future".

Paul Lester, Chairman of McCarthy & Stone plc, commented:  "Mike joined McCarthy & Stone in November 2013 and played an influential role in the Company's return to the public market two years later.  I want to thank Mike on behalf of the Board for his leadership of the Remuneration Committee and for his commitment and contribution to our business during his tenure. The Board will be commencing a process to identify and appoint a suitable replacement for Mike in due course ".