Barratt Developments PLC (LON:BDEV) has announced that John Allan will be stepping down as Chair of the Board and as a Director of the Company from 30 June 2023.
As announced on 11 January 2023, Caroline Silver was appointed a Non-Executive Director and Chair designate with effect from 1 June 2023, also joining the Remuneration Committee and Nomination Committee at the same time. Following today’s announcement, Caroline will take over as Chair of the Board and of the Nomination Committee from 30 June 2023, earlier than the previous date of 6 September 2023.
At the request of the Board, John Allan will step down as Chair of the Board and as a Director of the Company on 30 June 2023. The Board believes it is in the best interests of Barratt to accelerate the planned transition to the new Chair of the Board to prevent the ongoing impact of the allegations against John from becoming disruptive to the Company.
Barratt has not received any complaints about John Allan during his tenure at the Company.
Jock Lennox, Senior Independent Director, said: “The Board is grateful to John for his nine years of service to Barratt Developments. He leaves the Company in a strong financial and operational position, continuing to perform well in challenging market conditions.”
There are no additional matters that would require disclosure under paragraph 9.6.13R of the Listing Rules.
