MJ Gleeson plc
MJ Gleeson plc, the low-cost housebuilder and land promoter, announces that Dermot Gleeson, after 47 years on the Board and 28 years as Chairman, will step down from Board with effect from 31 December 2022.
The Board has concluded an exhaustive search process and is pleased to announce that James Thomson, CEO until 31 December 2022 and who had accepted an invitation to subsequently remain on the Board as a non-executive Director, will succeed Dermot as non-executive Chairman with effect from 1 January 2023.
Fiona Goldsmith, Senior Independent Director, commented:
"The Board would like to put on record its heartfelt thanks to Dermot for the enormous contribution to the business that he has made over many years and which have seen some of the most testing times experienced across the UK housebuilding sector. It was his vision that saw the business transformed into the UK's leading listed low-cost housebuilder and a business that can genuinely say that it changes people's lives.
"We are delighted that James will succeed Dermot. He has a long and outstanding track record in the housebuilding sector and, of course, a deep knowledge of Gleeson. This will provide much stability, both in these volatile times and as we welcome Graham Prothero as our new CEO at the beginning of next year."
Dermot Gleeson, Chairman, commented:
"I will be leaving the business in good shape and in good hands. I am extremely proud of what has been achieved by the wider Gleeson team throughout my time as Chairman and I look forward to watching with interest and excitement the continued growth of the business as it continues to play a leading role in meeting the enormous demand from first-time buyers for an affordable home."
As previously announced, a search process is underway for an additional non-executive Director and the Board expects to make an appointment before the end of the year.
The next trading update will be issued on the morning of the Company's Annual General Meeting on 18 November 2022 and a trading update in respect of H1 FY2023 will be issued on 13 January 2023.
This announcement is made in accordance with Rule 9.6.14 of the UK Listing Rules.
This announcement contains inside information. The person responsible for arranging the release of this announcement on behalf of the company is Leanne Johnson, Company Secretary.
12 October 2022
MJ Gleeson plc
Leanne Johnson, Head of Legal & Company Secretary Tel: +44 1142 612900
Mark Garraway Tel: +44 7771 860938
Charlotte Cobb Tel: +44 7795 422131