McCarthy & Stone announces appointment of housebuilder John White as Chairman

26 September 2013

McCarthy & Stone's new chairman John White

London, 26th September 2013: McCarthy & Stone, the UK’s leading developer of retirement properties for independent living, is pleased to announce today the appointment of John White as Chairman of the Company. John was most recently Group Chairman of UK housebuilder Persimmon plc, a company he first joined in 1979. John has assumed the position of McCarthy & Stone’s Chairman from Jeremy Jensen, who had held the position on an interim basis since February 2013. Jeremy has resumed his role as a Non-Executive Director and will step down from the board at the end of this calendar year.

Mark Elliott, CEO of McCarthy & Stone, said: “John has unrivalled experience of working within the housebuilding sector and the Board was unanimous in the decision to appoint him to steer the company through its next phase of growth. I am very much looking forward to working with him in implementing our long-term strategy for McCarthy & Stone.”

On Jeremy Jensen, Mark said: “I would like to express my sincere thanks to Jeremy for helping guide McCarthy & Stone through our refinancing earlier this year and the role he has played in the company’s turnaround since April 2009, which has placed McCarthy & Stone on an extremely solid financial footing.”

John White, Chairman of McCarthy & Stone, said: “I am very excited to be part of McCarthy & Stone, a company that has firmly established itself as the UK’s leading developer of retirement properties. The team has made tremendous progress this year in securing such a successful refinancing with the overwhelming support of lenders, which puts the business in a very strong position to capture the exciting growth opportunities that lie ahead. I look forward to playing an important role in identifying these opportunities and ensuring that McCarthy & Stone maximises its huge potential.”

John continued: “The new generation of over 60’s housing requirements have changed and need to be provided in greater numbers - the recent government announcement for housing for the older generation recognises this and is very helpful. I believe there is a great opportunity for the business to react to these new initiatives and to broaden its product offering into the market.”

John takes up the role of Chairman of McCarthy & Stone with immediate effect. He was previously Group Chairman of Persimmon plc, a position he held between April 2006 and April 2011, having previously been Group Chief Executive since 1993. During this period, Persimmon’s PBT increased from circa £14 million to over £500 million. He has spent all his working life in the housing industry.

 

-Ends-

For further information please contact:

Tala

Andrew Baud

07775 715775

andrew.baud@talapr.co.uk

 

Notes to Editors

McCarthy & Stone is the largest developer of privately owned later living accommodation in the UK. Over the past 30 years, the Company has sold 45,000 homes to 55,000 people in 1,000 different locations. Property development is at the heart of the business, but as the needs of homeowners have changed, the Company has developed other services to meet them. McCarthy & Stone built its first retirement apartments in New Milton, Hampshire, in 1977. Today, it provides 70 per cent of the UK’s owner-occupied retirement and Assisted Living accommodation.