Board of Directors

Board Composition

The Group is managed through its Board of Directors. The Board comprises the Non-Executive Chairman, one other Non-Executive Director, the Chief Executive, Group Finance Director and the Land Director. The Board's main roles are to approve and review the Group's strategic objectives and to ensure that the necessary financial and other resources are made available to enable it to meet these objectives.

Specific responsibilities reserved to the Board include: setting Group strategy; reviewing operational and financial performance; approving certain land acquisitions; approving appointments to the Board; and approving policies relating to Directors' remuneration. In addition, the Board reviews the risk profile of the Group and ensures that an adequate system of internal control is in place.

The roles of the Chairman and the Chief Executive are separate. The Chairman meets the Chief Executive and the other Non-Executive Director separately as and when required to discuss matters of the Board.

One-third of the Directors retire annually by rotation in accordance with the Company's Articles of Association and this enables the shareholders to decide on the election of their Company's Board.

Terry Royden

Terry Roydon Non-executive Chairman

AR

Appointment to the Board

March 2007

Skills he brings to the Board

He has extensive managerial, practical and political experience of the property sector obtained over a 40 year career

Previous experience

  • Chief Executive of Prowting plc, a UK housebuilder he led to flotation in 1988 and which was purchased by Westbury plc for £140m in June 2002
  • Non-executive Director of LSE quoted Country & Metropolitan plc
  • Non-executive Director of Gladedale Holdings plc
  • President of the Home Builders Federation
  • Holds a BSc in Estate Management and an MBA

External appointments

  • Consultant and member of the Board of Dom Development S.A., a major quoted Polish residential developer
  • Non-executive Director of AIM quoted Kimberly Resources NV
  • Non-executive Director of Larkfleet Holdings Limited
  • President of the European Union of Housebuilders and Developers
Stephen Wicks

Stephen Wicks Chief Executive

Appointment to the Board

June 2005

Skills he brings to the Board

He has worked in the construction and housebuilding sector all of his working life and has extensive experience in the acquisition of large-scale development opportunities

Previous experience

  • Founding shareholder and Chief Executive of Country & Metropolitan plc, which floated on the main market of the London Stock Exchange in December 1999 with a market capitalisation of £6.9m
  • He directed the growth of Country & Metropolitan plc until its disposal in April 2005 to Gladedale Holdings plc for approximately £72m

External appointments

Member of the board of AIM quoted Energiser Investments plc

Nishith Malde

Nishith Malde Group Finance Director

Appointment to the Board

June 2005

Skills he brings to the Board

He has over 25 years' experience in the property sector with wide professional knowledge and understanding of both listed and unlisted companies

Previous experience

  • After graduating from the London School of Economics, qualified as a Chartered Accountant with KPMG in 1985 where he advised owner-managed businesses
  • Finance Director and Company Secretary of Country & Metropolitan plc where he was actively involved in the preparation for the flotation of the company in December 1999 and its further development until it was acquired by Gladedale Holdings plc in April 2005

External appointments

  • Member of the board of AIM quoted Energiser Investments plc
Paul Brett

Paul Brett Land Director

Appointment to the Board

October 2011

Skills he brings to the Board

He has worked in the land and planning sector all of his working life and has considerable knowledge of local and national planning policies. He is particularly skilled in the delivery of complex land acquisitions

Previous experience

  • Land Director of the Southern Region of Country & Metropolitan plc for ten years during which time it floated onto the main market of the London Stock Exchange
  • Contributed to the growth of the Southern Region and its land bank, until its disposal to Gladedale Holdings plc in April 2005
Simon Bennett

Simon Bennett Non-executive Director

AR

Appointment to the Board

March 2007

Skills he brings to the Board

He has over 30 years of investment banking experience and of providing corporate finance and broking advice to growing companies

Previous experience

  • Qualified as a Chartered Accountant in 1981
  • Head of Corporate Finance and Head of the Mid and Small Caps team at Credit Lyonnais Securities
  • Head of Corporate Broking at Fairfax IS plc
  • Head of Corporate Broking at Sanlam Securities

External appointments

  • He established Incremental Capital LLP in 2004 to provide corporate finance advice to mid and small cap companies
  • Chairman of the Grown Up Chocolate Company
  • Partner at Glenmill Partners

Committee membership

A Audit Committee member

R Remuneration Committee member

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