Countryside Properties’ chief executive Ian Sutcliffe on Thursday said the housebuilder is in “great shape” despite political uncertainty, as he outlined plans to retire in March next year.
The 60-year-old has been with the builder since 2013 and led it since 2015.
Iain McPherson, head of the firm’s partnerships business which works with councils in London and the South East, will become group chief executive.
Sutcliffe said: “I have worked closely with Iain over the past few years and am delighted to be handing over the reins to someone of Iain’s calibre. I wish Iain and Countryside all the very best for the future.”
The company, which is currently working on a number of London sites including in Walthamstow, floated at 225p per share in 2016. Shares in the firm were today down 2.8p to 372.8p
Countryside sold 5733 homes in the 12 months to September 30- up 33%.
Pre-tax profit increased to £203.6 million from £180.7 million.
