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McCarthy & Stone PLC (MCS)

McCarthy & Stone PLC

Directorate Change
RNS Number : 5523M
McCarthy & Stone PLC
12 May 2020
 

 

12 May 2020

 

M c Carthy & Stone plc

 

Directorate Change

 

 

McCarthy & Stone plc (the 'Company'), the UK's leading developer and manager of retirement communities, in compliance with Listing Rule 9.6.11 (1)(2), today announces that Rowan Baker, Chief Financial Officer (CFO), has informed the Board of her intention to step down as CFO and as a Director of the Company to become CFO of Laing O'Rourke.

 

The Board is pleased to confirm that Martin Abell will join the business as CFO Designate on 26 May 2020, becoming CFO on 1 August 2020, following Rowan's departure. Martin most recently held the position of CFO at Clinigen Group plc, the pharmaceutical and services company, and prior to that was the Finance Director (Europe and Rest of World division) for Hays plc, the FTSE 250 professional recruitment company.

 

Rowan will remain with the business to provide a smooth handover with Martin and the wider finance team. Her departure date will be 31 July 2020, following the Group's HY20 Results on 15 July 2020. 

 

Rowan joined McCarthy & Stone in 2012 and was appointed to the Board in January 2017. She played a key role in the Company's IPO and in developing and delivering the Company's new strategy, as well as driving several transformation initiatives.

 

John Tonkiss, Chief Executive Officer, said: "On behalf of the Board, I would like to thank Rowan for her huge contribution over the past eight years. Personally, I am extremely grateful for her guidance and support, particularly since she took on the role as CFO, and we wish her the very best with her new position. I am also pleased to welcome Martin to the Company. His commercial and public company experience will be of huge benefit and I look forward to working with him."

 

The Company confirms that there is no further information to be disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the Financial Conduct Authority with regard to the appointment of Martin Abell.

 

-  Ends  -

 

For more information, please contact:

 

Adam Batty, Group General Counsel and Company Secretary

07976 666608

 

Marina Calero, Investor Relations Director

07770956122

 

Powerscourt, 020 7250 1446 / mccarthy-stone@powerscourt-group.com

Justin Griffiths

Nick Dibden

Victoria Heslop

 

Notes to Editors

McCarthy & Stone is the UK's leading developer and manager of retirement communities, with a significant market share. The Group buys land and then builds, sells and manages high-quality retirement developments. It has built and sold more than 58,000 properties across more than 1,300 retirement developments since 1977 and is renowned for its focus on the needs of those in later life.

McCarthy & Stone has two main product ranges - Retirement Living and Retirement Living PLUS - which provide mainly one and two-bedroom apartments across the country with varying levels of support and care for older people. Retirement Living developments provide independence in private apartments designed specifically for the over-60s, as well as facilities such as communal lounges and guest suites that support companionship. Retirement Living PLUS developments, which are designed specifically for the over-70s, offer all of this plus more on-site facilities such as restaurants, well-being suites and function rooms.  Importantly, they also provide on-site flexible care and support packages to assist those needing additional help. 

All developments built since 2010 are managed by the company's in-house management services team, providing peace of mind that it will look after customers and their properties over the long term. This is a key part of how McCarthy & Stone seeks to enrich its customers' lives. This commitment to quality and customer service continues to be recognised by residents. In March 2020, the Group again received the full five star rating for customer satisfaction from the Home Builders Federation - making it the only UK developer, of any size or type, to achieve this accolade for 15 consecutive years.

For further information, please visit  www.mccarthyandstone.co.uk

 

 

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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