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Redrow CEO to step down as Barratt integration nears completion
(Sharecast News) - Housebuilder Barratt Redrow has announced that the former head of Redrow is to step down in June as the operational integration of the two companies nears completion. Matthew Pratt, who has worked for Redrow for 22 years, including five years as chief executive prior to last year's £2.5bn merger, will leave the board on 30 June, but remain available until the end of the year as needed.
David Thomas, the CEO of the enlarged group who was the head of standalone Barratt from 2015, said Pratt played a "key role in the smooth and effective integration of Barratt and Redrow".
"I would like to thank him for his valuable contribution to the combined business," Thomas said.
In a statement, Pratt said: "As we approach the final stages of operational integration, I am immensely proud to have contributed to the coming together of these two exceptional businesses. I wish Barratt Redrow every success as it embarks on this exciting new chapter."
In other news, with current chief operating officer and deputy CEO Steven Boyes set to retire in September, as previously announced, Barratt Redrow has appointed Mike Roberts as its new COO. Roberts, who is currently regional managing director for the north, will become COO on 6 September.
Barratt Redrow shares were up 1.2% at 420.9p by 1304 GMT.
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