UK News: Former Stobart chair takes charge at Crest Nicholson - PressFrom - United Kingdom

UK NewsFormer Stobart chair takes charge at Crest Nicholson

18:00  11 september  2019
18:00  11 september  2019 Source:

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Crest Nicholson on WN Network delivers the latest Videos and Editable pages for News & Events, including Entertainment, Music, Sports, Science and more, Sign up and share your playlists. Crest Nicholson is a British housebuilding company based in Chertsey, Surrey.

Stobart owns Southend Airport and recently took a stake in the regional airline Flybe as part of a consortium involving Virgin Atlantic. The row erupted over the treatment of former chief executive Andrew Tinkler, who was sacked as a director last year and then mounted a legal case to be reinstated.

Former Stobart chair takes charge at Crest Nicholson © Provided by City A.M. Ltd

Crest Nicholson has installed Stobart chair Iain Ferguson as its non-executive chairman, as the house builder completes its refurbishment of top-level management.

Ferguson, who will take the post in November, has been appointed just as new chief executive Peter Truscott is set to take the reins at the firm this month.

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“Crest Nicholson is an outstanding company with a passion for not just building homes, but also for creating vibrant sustainable communities,” he said.

Crest Nicholson said Ferguson had an “impressive track record”.

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Crest Nicholson offers an array of job vacancies from onsite to office based. The agreement will see Crest Nicholson offer those that are leaving, or who have left the military, an opportunity to build a career in the housebuilding sector through a dedicated training scheme.

Crest Nicholson is not responsible for the content of external internet sites. Freddie Banks was recently able to purchase his new two-bedroom at Crest Nicholson ’s Dylon Works in Lower Sydenham thanks to the Government’s Help to Buy scheme.

The house builder has not had an easy ride in recent months, after reporting a fall in profits for the first half of the year as Brexit uncertainty kept house prices flat across the south of England.

That came after it issued its third profit warning in three years in 2018, blaming the difficult market and uncertain political environment.

As a result, the property developer is shifting its business from the high-end, south east England-focused housing market to a focus on partnerships.

Shares in the company rose 3.1 per cent today.

Ferguson will replace Stephen Stone, who has been at the Crest Nicholson since 1995. He became chief executive in 1995 and then chairman in 2018.

Stone said: “It is a privilege to have served as chief executive and then chairman of this great company.”

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Crest Nicholson is a leading developer of sustainable communities, dedicated to excellence in design and innovation, sustainability and customer care. Crest Nicholson has built a proud reputation for developing imaginative solutions for designing and building high-quality homes that meet our

Disclaimer Distances taken from Google Maps and train times taken from National Rail Enquiries. Crest Nicholson is not responsible for the content of external internet sites. Ask the Experts at Crest Nicholson ’s exclusive home buyer event in Totteridge Place, Whetstone.

Stobart’s boardroom battles

He will likely be hoping for an easier life at Crest Nicholson than at his current firm, after seeing out a brutal boardroom struggle at Stobart last year.

Ferguson thwarted an incendiary attempt to kick him out of his post by the company’s former chief executive Andrew Tinkler, who had hoped to install billionaire retail magnate Philip Day instead.

Tinkler, who Stobart accused of leading an unlawful conspiracy against the company, was narrowly defeated in a shareholders’ vote.

Read more: UK house prices rise at fastest rate since April, finds Halifax

Then, in February this year, Stobart claimed another victory in a separate case, after the High Court found Tinkler had acted in breach of his fiduciary duties during his campaign to oust Ferguson.

But the judge also ruled that Stobart had not managed to establish its claim against Tinkler that he had launched an unlawful conspiracy to topple its board. The judge also found that Stobart’s dismissal of Tinkler was lawful.

The post Former Stobart chair Iain Ferguson takes charge at house builder Crest Nicholson appeared first on CityAM.

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