REG - Barratt Redrow PLC - Changes to the Board

Barratt RedrowAnnouncement

15/04/2025 11:15

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RNS Number : 0775F  Barratt Redrow PLC  15 April 2025

THE FOLLOWING ANNOUNCEMENT IS BEING MADE PURSUANT TO, INTER ALIA, THE
REQUIREMENTS OF RULE 19.6(B) OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE
"CODE")

15 April 2025

Barratt Redrow plc: Changes to the Board

Barratt Redrow plc ("the Company") announces that, with the operational
integration of Barratt and Redrow nearing completion, Matthew Pratt will be
stepping down from the Board and his position as Redrow Chief Executive on 30
June 2025. He will remain available to the Company until 31 December 2025.

 

With Matthew stepping down and, as previously announced, Steven Boyes retiring
on 6 September 2025, the Executive Directors on the Board from that point will
be David Thomas as Chief Executive Officer and Mike Scott as Chief Financial
Officer.

 

David Thomas, Group Chief Executive Officer, said:

"Following a successful 22 year career at Redrow plc, including five years as
CEO prior to the combination, Matthew has had 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."

 

Matthew Pratt, Redrow Chief Executive and Group Board Director, said:

"It has been a privilege to work alongside such talented and committed
colleagues, and I am deeply grateful for their role in shaping Redrow into one
of the UK's leading housebuilders. 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."

 

As required under Rule 19.6(b) of the Code, this announcement also serves as
an update of the post-offer intention statements that Barratt Developments plc
("Barratt") made pursuant to Rules 2.7(c)(viii) and 24.2(a)(ii) to (iii) of
the Code, in its announcement of 7 February 2024 and the scheme document
published in connection with the all-share combination of Barratt and Redrow
plc which completed on 21 August 2024. Those documents stated that Matthew,
who was then Group Chief Executive of Redrow, would join the Combined Group
and assume the roles of Chief Executive Officer, Redrow, and Group Executive
Director. That appointment took effect on 4 October 2024 following the United
Kingdom's Competition and Markets Authority acceptance of undertakings in lieu
of a reference to a Phase 2 investigation. As the operational integration of
Barratt and Redrow nears completion, Matthew will step down from those roles
on 30 June 2025.

 

Notes to Editors

Matthew Pratt's remuneration will be published on the Company's website in
accordance with section 430(2B) of the Companies Act 2006, and in the
Company's Annual Report and Accounts in due course.

 

For further information, please contact:

 Analyst / investor enquiries

 Mike Scott, Chief Financial Officer                                              01530 278 278

 John Messenger, Group Investor Relations Director                                07867 201 763
 Media enquiries

 Tim Collins, Group Corporate Affairs Director                                    01530 278 278
 Brunswick

 Jonathan Glass / Rosie Oddy                                                      020 7404 5959

Barratt Redrow plc LEI: 2138006R85VEOF5YNK29

The Group's next scheduled announcement will be a trading update on Wednesday
16 April 2025.

 

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