Housebuilding and construction group Galliford Try has announced that Ian Baker has stepped down from his positions as Group Managing Director of Housebuilding and a member of the executive board with immediate effect for reasons of sudden ill-health.
Baker will remain with the business until November 2013.
Galliford Try's two current Divisional Housebuilding Managing Directors will report directly to Greg Fitzgerald, Chief Executive, who will oversee the Housebuilding division for an interim period while a successor for Baker's position is sought internally and externally.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In addition, the group confirmed that Graham Prothero, who was selected as the company's next finance director earlier this year, would formally join the board as Group Finance Director with effect February 1st 2013.
Greg Fitzgerald, Chief Executive, commented: "It is with great personal sadness that we report that Ian Baker has had to step down from the executive board in the most unfortunate circumstances. The board and I thank Ian for his contribution across his career with Galliford Try. The board have put in place contingency arrangements to cover Ian's absence and we will update the market regarding the appointment of a successor when possible."
MF
-
Four AI ETFs to buyIs now a good time to buy AI ETFs? We examine four AI ETFs that investors might want to add to their portfolio
-
Chase boosts easy-access interest rate - savers could earn 4.75%Chase is offering a boosted interest rate which is fixed for six months, on top of the standard variable rate
