REG - Taylor Wimpey PLC - CEO appointment

Taylor WimpeyAnnouncement

07/02/2022 07:00

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RNS Number : 8131A  Taylor Wimpey PLC  07 February 2022

 

 

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

LEI: 21380089BTRXTD8S3R66

 

For immediate release

 

7 February 2022

Taylor Wimpey plc

CEO appointment

 

Following the announcement on 8 December 2021 that Pete Redfern will be
stepping down as CEO of the company after more than 14 years of outstanding
service in the role, the Board is delighted to announce that Jennie Daly has
been appointed as CEO, effective from the conclusion of the Annual General
Meeting on 26 April 2022.

 

The appointment follows a thorough recruitment and selection process, led by
the Nomination and Governance Committee of the Board, that considered a long
list of industry and non-industry candidates, along with extensive
consultation with shareholders.

 

Jennie Daly is currently Group Operations Director of Taylor Wimpey and a
member of the Board of Directors. In her current role, Jennie oversees Taylor
Wimpey's land, planning, design, technical, sustainability, production and
supply chain functions, as well as managing the Taylor Wimpey Logistics
business. She has almost 30 years of experience in the housebuilding and land
and planning industries, with excellent relationships across all stakeholders.
Jennie joined Taylor Wimpey in 2014 from Redrow Plc where she was Managing
Director of its Harrow Estates business and, prior to that, was Group Land
Manager at Westbury Plc. Her early career was in local authority and council
planning roles in Macclesfield and Blackpool. Jennie is also a Non Executive
Director of the Peabody Trust and of the New Homes Quality Board Limited.

 

Irene Dorner, Chairman, said:

 

"I am delighted to announce the appointment of Jennie Daly as our new CEO.
Jennie has extensive experience in the housebuilding sector and has
demonstrated exceptional leadership and a razor-sharp operational focus. Her
strong focus on execution, combined with her customer and people-focused
skills, set her apart from the other candidates we were considering. I look
forward to continuing to work closely with her as we execute our next phase of
growth."

 

"I would also like to extend the Board's thanks once again to Pete for his
exemplary leadership of the business and over two decades of service to Taylor
Wimpey. Pete leaves behind a very strong and stable business well set for
growth, with a culture that we are all truly proud of. On behalf of the Board,
I wish him and his family very well for the future."

 

Jennie Daly, CEO Designate, said:

 

"It is an honour and privilege to take on the role of CEO at Taylor Wimpey and
I am delighted to have the support of the Board and our Executive and wider
teams. This is an outstanding business with a strong landbank and strategic
land pipeline, and a talented and committed team. Taylor Wimpey is strongly
positioned to deliver sustainable sector-leading growth and returns, whilst
always operating as a responsible business. I am energised by the
opportunities at Taylor Wimpey and look forward to working closely with the
Board and our teams to deliver on the significant potential at the company."

 

As previously announced, the Board also confirms that a search is underway to
identify two new Non Executive Directors, with a focus on operational and
industry expertise, as well as customer service experience.

 

Pete Redfern will step down from the Board at the conclusion of the AGM on 26
April 2022 and will be available to the business to ensure an orderly
transition until his notice period ends on 8 December 2022.

 

Remuneration arrangements

 

Jennie Daly's remuneration arrangements have been set in accordance with the
Directors' Remuneration Policy approved by shareholders at the AGM on 23 April
2020.

 

Jennie's remuneration package comprises:

·    A salary of £750,000

·    Pension in line with the rate applying to the majority of the
workforce, of 10% of salary

·    A bonus opportunity of 150% of salary (earned in respect of FY22)

·  Performance Share Plan (PSP) award for 2022 of 200% of salary, subject
to the same performance conditions as applied to the 2022 PSP award for the
Group Finance Director

 

Full details will be set out in the Directors' Remuneration Report in the 2021
Annual Report and Accounts.

 

Consistent with his contractual terms, Pete Redfern will be paid salary,
pension and benefits in the normal way until the expiry of his 12-month notice
period on 8 December 2022. As a good leaver for the purpose of the bonus and
PSP rules, he will be eligible to earn a pro rata bonus to 26 April and will
retain a pro rata entitlement to outstanding PSP awards, in both cases subject
to the achievement of the relevant performance conditions. Further details
will be set out in the Directors' Remuneration Report in the 2021 Annual
Report and Accounts.

 

The person responsible for releasing this announcement is Alice Black - Group
General Counsel and Company Secretary.

 

 

-    Ends -

 

 

 

For further information please contact:

Taylor Wimpey plc
 
Tel: +44 (0) 1494 885656

Alice Black, Group General Counsel and Company Secretary

Debbie Archibald, Investor Relations

 

Finsbury
 
TaylorWimpey@Finsbury.com

Faeth Birch

Anjali Unnikrishnan

Notes to editors:

Taylor Wimpey plc is a customer- focused homebuilder operating at a local
level from 23 regional businesses across the UK. We also have operations in
Spain.

For further information please visit the Group's website:
www.taylorwimpey.co.uk/corporate (https://www.taylorwimpey.co.uk/corporate)

Follow us on Twitter @TaylorWimpeyplc

 

 

 

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