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Persimmon appoints David Jenkinson as permanent chief executive

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  • 26/02/2019
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Persimmon appoints David Jenkinson as permanent chief executive
Housebuilder Persimmon has appointed interim CEO David Jenkinson as permanent group chief executive with immediate effect.

 

Jenkinson was promoted to interim CEO from group managing director in November 2018, following the resignation of Jeff Fairburn (pictured), after the board said criticism of Fairburn’s £75m bonus had a negative impact on the business’s reputation.

There will be no change to Jenkinson’s remuneration upon his appointment and he will not participate in annual bonus arrangements in 2019. He will not receive an award under the group’s 2017 share performance plan.

Chairman Roger Devlin said that since his appointment as interim CEO, Jenkinson has shown both strong leadership in maintaining the company’s track record of operational excellence and that he is listening carefully to the views of stakeholders.

Jenkinson said that his priorities will be to maintain the strong operational and financial momentum of the business, to develop customer care operations and bring greater focus to its wider responsibilities as a leading UK house builder.

He said: “We have a strong and committed team and I look forward to continuing to work with all my colleagues to deliver the high quality, attractively priced homes that the UK needs.”

 

Annual results

Housebuilder Persimmon recorded an increase of 13 per cent in profits in 2018, standing over £1bn, thanks to its involvement to the Help to Buy scheme, which is anticipated to remain in place until 2023, supporting customers to gain access to the housing market across the UK with competitive mortgage rates.

Persimmon saw an increase of 406 new homes in 2018 to 16,449 from 16,043 in 2017, with an average selling price of £215,563, up one per cent from £213,321 in 2017.

For 2018, group revenue rose by four per cent to £3.7bn, with new housing revenue increasing by four per cent to £3.55bn.

Rising revenues were supported by continued customer demand with high employment levels and competitive mortgages.

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