Taylor Wimpey Seeks New Chairman To Replace Askew
December 04 2009 - 2:10AM
Dow Jones News
U.K. house builder Taylor Wimpey PLC (TW.LN) Friday announced
that Chairman Norman Askew intends to stand down from the board by
the end of December, 2010.
A search for a successor already has begun, the company
said.
Askew, aged 67, was appointed chairman of Taylor Woodrow in
July, 2003, and subsequently was named as chairman of Taylor Wimpey
following the nil-premium merger with George Wimpey in July,
2007.
He has led the board through the post-merger integration
process, the sale of the Taylor Woodrow Construction business and
through the challenging market conditions that faced the industry
during 2008 and 2009, culminating in the company's renegotiation of
its financial covenants and the raising of GBP510 million via a
placing and open offer in June, 2009.
At the same time, Taylor Wimpey announced the appointment of
Robert (Rob) Rowley as an independent nonexecutive director with
effect from Jan. 1. Rowley currently is a nonexecutive director at
Liberty International PLC (LII.LN) and Moneysupermarket.com Group
PLC (MONY.LN).
David Williams, currently a nonexecutive director, will stand
down from the board March 31. Williams recently was appointed joint
chairman of the Mondi Group and also is a nonexecutive director of
Meggitt PLC (MGGT.LN), Tullow Oil PLC (TLW.LN) and DP World Ltd.
(DPW.DIF).
-By Jonathan Buck, Dow Jones Newswires; +44 (0)207 842 8237;
jonathan.buck@dowjones.com
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