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McCarthy & Stone plc

McCarthy & Stone plc Appointment of Chief Operating Officers

John Tonkiss, Chief Executive Officer for McCarthy & Stone, commented:

“We are delighted to announce these two senior appointments to the Board. Nigel and Mike’s experience will significantly strengthen our management team and ensure we align our new strategy with operational execution and excellence.

“Nigel has exceptional experience in the construction industry. He will lead our build cost reduction workstream and our deployment of more cost-effective building solutions, which is critical to the successful delivery of our new strategy.

“With his extensive knowledge of the services sector, Mike also brings a valuable set of skills to the Board as we seek to leverage the strategic opportunities in this market and deliver our long-term vision of becoming the UK’s leading developer, manager and owner of retirement communities.

“On behalf of the Board, I welcome both Nigel and Mike and look forward to working with them.”

McCarthy & Stone plc (LON:MCS), the UK’s leading developer and manager of retirement communities, today announced the appointments to the Board of Nigel Turner and Mike Lloyd as dual Chief Operating Officers. They will oversee the Group’s building operations and customer-facing services respectively and help deliver the Group’s new strategy, announced on 25 September 2018. They will join the Board on 1 January 2019.

Nigel Turner will join as Chief Operating Officer in charge of the Group’s building operations. Nigel was formerly Executive Director at Kier Group plc, an infrastructure, buildings, developments and housing company, where he led the property and development services division and had operational responsibility for a team of more than 7,000 people. Nigel will take forward the Group’s activities to drive down build costs and execute the new strategy to achieve more standardised and efficient designs.

Mike Lloyd will join as Chief Operating Officer in charge of the Group’s customer-facing services. Mike was formerly Chief Executive Officer of The AA’s regulated business and Chief Commercial Officer. At The AA, he led the consumer roadside assistance, business services, insurance broking and financial services P&Ls, as well as marketing and digital. Mike will be responsible for the Group’s Management Services operations, as well as sales, marketing and resales, and will lead the drive to leverage the strategic opportunities for the Group. This includes increasing customer appeal by offering a broader choice of tenure options, as well as increased flexibility and affordable offerings.