Crest Nicholson Holdings PLC Directorate Change (0858N)

TIDMCRST

RNS Number : 0858N

Crest Nicholson Holdings PLC

27 May 2022

Crest Nicholson Holdings plc

DIRECTORATE CHANGE

Crest Nicholson Holdings plc ('Crest Nicholson' or the 'Group') today announces a directorate change and restructure of the Executive Leadership Team.

In January 2020, the Group outlined an updated strategy to improve financial performance and restore Crest Nicholson to being one of the UK's leading housebuilders. This plan was conceived on delivering a reset in operational efficiency and standards, a significantly strengthened balance sheet and assembling an experienced, diverse leadership team to implement this change in direction. All these objectives have been met, ensuring that the first part of the Group's turnaround has been successfully delivered.

In recognising the significant progress that has been achieved in transforming the Group's operations and the acquisition of a skilled management team to deliver the next phase of its strategy, the Board and Tom Nicholson, Chief Operating Officer, have agreed that now is the right time for Tom to leave the organisation. The Group thanks Tom for his hard work and dedication in helping develop and oversee the changes that now position Crest Nicholson strongly to deliver its future growth ambitions.

The Group does not intend to replace the role of Chief Operating Officer in the short term and will provide a further update on progress against its strategy at its half year results for the six months ended 30 April 2022 on Tuesday 14(th) June 2022.

Crest Nicholson

   Jenny Matthews, Head of Investor Relations                               [phone] 

Tulchan Communications

   James Macey White / Giles Kernick                                            [phone] 

27 May 2022

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May 27, 2022 05:18 ET (09:18 GMT)