Redrow chief steps down after Barratt merger

Grant Prior 2 days ago
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Redrow Chief Executive Matthew Pratt is stepping down in June following the merger with Barratt.

He follows Chief Operating Officer & Deputy Chief Executive Steven Boyes who is retiring in September.

Barratt Redrow has confirmed that Mike Roberts currently Regional Managing Director of the firm’s Northern Region, has been appointed as Chief Operating Officer-designate.

David Thomas, Group Chief Executive Officer, said: “Following a successful 22 year career at Redrow plc, including five years as CEO prior to the combination, Matthew has had a key role in the smooth and effective integration of Barratt and Redrow. I would like to thank him for his valuable contribution to the combined business.”

Pratt added: “It has been a privilege to work alongside such talented and committed colleagues, and I am deeply grateful for their role in shaping Redrow into one of the UK’s leading housebuilders. As we approach the final stages of operational integration, I am immensely proud to have contributed to the coming together of these two exceptional businesses. I wish Barratt Redrow every success as it embarks on this exciting new chapter.”

In a trading update on Wednesday Barratt Redrow said nine divisional office closures were complete or underway following the merger with an increased target of £100m of “cost synergies”.

It added: “The procurement programme is now gathering momentum as we seek to both harmonise buying terms and ensure the purchasing scale of Barratt Redrow is optimised, unlocking the targeted synergies.”

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