REG - Helical PLC - Directorate Change

HelicalAnnouncement

23/05/2024 07:00

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RNS Number : 5551P  Helical PLC  23 May 2024

23 May 2024

HELICAL PLC

("Helical" or the "Group")

 

MATTHEW BONNING-SNOOK TO SUCCEED GERALD KAYE AS CEO OF HELICAL

 

Helical today announces that Matthew Bonning-Snook, Property Director, will
succeed Gerald Kaye as Chief Executive of the Company at this year's Annual
General Meeting ("AGM") in July. Gerald has informed the Board that, after 30
years with the Company, he will be handing over his executive duties and
stepping down from the Board at the 2024 AGM. He will remain as an external
consultant having agreed to support on the delivery of the Company's next
best-in-class office developments at 100 New Bridge Street, EC4 and Brettenham
House, WC2.

 

Matthew has built a long and successful career at Helical, having joined the
business in 1995 and the Board in 2007, and been responsible for delivering a
significant number of highly profitable projects. The Board believes he is
well placed to lead the business through the next phase of its development
programme, which is focused on three over station development ("OSD") schemes
in joint venture with TfL's Places for London, at 10 King William Street, EC4,
Southwark, SE1 and Paddington, W2, in addition to 100 New Bridge Street, EC4
and Brettenham House, WC2.

 

Richard Cotton, Chairman of Helical, said: "On behalf of the Board I would
like to pay tribute to Gerald's outstanding contribution to Helical during his
long tenure as first, Development Director and, most recently, as Chief
Executive. Since he succeeded Mike Slade in 2016 he has re-focused the
business as a best-in-class developer in Central London. Over this period he
has had to contend with strong headwinds, from Brexit, Covid and latterly the
sharp upward adjustment in interest rates. Throughout he has remained calm and
focused, helping the business to navigate the challenges while always
demonstrating a totally committed work ethic.

 

"I am delighted that he has agreed to continue in an external consultancy
role, maintaining the strong relationships with our important joint venture
partners.

 

"The Board has succession as one of its key priorities and Matthew's
appointment is an important part of this process. Matthew has built a highly
impressive track record during his near 30 year tenure with the Company, where
he has been responsible for identifying, funding and delivering multiple
highly profitable developments. Market conditions are challenging at present
and the share price performance has been reflective of this, but the quality
of our pipeline and partners give me encouragement that we are well placed to
deliver good shareholder returns over the medium term. We have a clear
strategy to do this and I look forward to working closely with Matthew to
implement it."

 

Gerald Kaye, Chief Executive of Helical, said: "It has been a tremendous
privilege to lead a business that has delivered some major and iconic London
office developments which are today being enjoyed by a diverse range of
businesses.

 

"I have worked alongside Matthew for almost 30 years and believe he is the
right person to succeed me as Chief Executive of Helical. I know that he is
fully focused on realising profits from the Company's exceptional development
pipeline and I look forward to continuing to make my own contribution to the
ongoing success of Helical in a consultant role."

 

Matthew Bonning-Snook, Property Director of Helical, said: "Gerald and I have
worked together since 1995 and I am honoured to succeed him as Helical's Chief
Executive. I thank the Board for its support and look forward to leading
Helical during the next phase in its growth and to working with Tim Murphy,
Chief Financial Officer, and the rest of the exceptional Helical team."

 

 

For further information, please contact:

 

 FTI Consulting
 Dido Laurimore  Email: Schelical@fticonsulting.com (mailto:Schelical@fticonsulting.com)

 Richard Gotla   Tel: 020 3727 1000

 Andrew Davis

 

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