REG - Watkin Jones plc - Appointment of Chief Executive Officer

Watkin JonesAnnouncement

15/11/2023 07:00

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RNS Number : 4573T  Watkin Jones plc  15 November 2023

 For immediate release  15 November 2023

 

Watkin Jones plc

('Watkin Jones' or the 'Group')

 

Appointment of Alex Pease as Chief Executive Officer

 

Watkin Jones is pleased to announce the appointment of Alex Pease as Chief
Executive Officer ('CEO') with immediate effect.

 

Alex joined Watkin Jones in 2010 and took on the role of Group Investment
Director in 2013. He was appointed Chief Investment Officer in 2021 and joined
the Board in 2022.  Since 19 July 2023, Alex has been the Interim CEO,
leading the business through a critical period during which the markets in
which the Group operates have faced significant challenges. During this time,
the Group under Alex's leadership has successfully concluded the sale of three
non-core Private Rented Sector assets, taken action to better align its cost
base and made progress against a number of important operational initiatives.

 

Alex will provide updates on these actions, together with his strategic plan
for Watkin Jones, in January 2024 alongside the full year results for the
Group.

 

Alan Giddins, Chair, said: "The Board is delighted to announce Alex's
appointment as our new CEO.  Over the last four months, as Interim CEO, Alex
has shown his ability both to lead Watkin Jones and think strategically about
the future direction of the business.  While the Board ran a full search
process, which included a number of strong external candidates, it was clear
that Alex was the outstanding candidate for the role.  I and the Board very
much look forward to working with Alex and the rest of the executive team to
deliver on the full potential of Watkin Jones."

 

Alex Pease, CEO, commented: "I am delighted and honoured to be given the
opportunity to lead Watkin Jones as CEO.  Watkin Jones is a fantastic
business, with talented and dedicated employees.  The PBSA and BTR sectors
are amongst the most attractive asset classes in real estate and whilst we
continue to face short term macro-economic headwinds, I have no doubt about
our ability to navigate through these successfully and return the Group to
profitable growth."

 

Details of Alex's remuneration arrangements will be set out in the 2023
Directors' Remuneration Report, due to be published in January 2024.

 

- Ends -

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) No 596/2014 as it forms part of UK Domestic
Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

 

For further information:

 Watkin Jones plc
 Alex Pease, Chief Executive Officer                              Tel: +44 (0) 20 3617 4453
 Sarah Sergeant, Chief Financial Officer                          www.watkinjonesplc.com (http://www.watkinjonesplc.com/)

 Peel Hunt LLP (Nominated Adviser & Joint Corporate Broker)       Tel: +44 (0) 20 7418 8900
 Mike Bell / Ed Allsopp                                           www.peelhunt.com (http://www.peelhunt.com/)

 Jefferies Hoare Govett (Joint Corporate Broker)                  Tel: +44 (0) 20 7029 8000
 James Umbers/David Sheehan / Paul Bundred                        www.jefferies.com (http://www.jefferies.com/)

 

Media enquiries:

 Buchanan
 Henry Harrison-Topham / Steph Whitmore / Jamie Hooper  Tel: +44 (0) 20 7466 5000
 watkinjones@buchanan.uk.com                            www.buchanan.uk.com

 

Notes to Editors

Watkin Jones is the UK's leading developer and manager of residential for
rent, with a focus on the build to rent, student accommodation and affordable
housing sectors. The Group has strong relationships with institutional
investors, and a reputation for successful, on-time-delivery of high quality
developments.  Since 1999, Watkin Jones has delivered 48,000 student beds
across 143 sites, making it a key player and leader in the UK purpose-built
student accommodation market, and is increasingly expanding its operations
into the build to rent sector.  In addition, Fresh, the Group's specialist
accommodation management business, manages 18,000 student beds and build to
rent apartments on behalf of its institutional clients.  Watkin Jones has
also been responsible for over 80 residential developments, ranging from
starter homes to executive housing and apartments.

 

The Group's competitive advantage lies in its capital-light business model,
which enables it to offer an end-to-end solution for investors, delivered
entirely in-house with minimal reliance on third parties, across the entire
life cycle of an asset.

 

Watkin Jones was admitted to trading on AIM in March 2016 with the ticker
WJG.L.  For additional information please visit www.watkinjonesplc.com
(http://www.watkinjonesplc.com/)

 

 

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