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Taylor Wimpey plc

Taylor Wimpey plc FD Ryan Mangold to step down

Taylor Wimpey plc (LON:TW.) announced today that Ryan Mangold will be leaving his role as Group Finance Director after almost eight years in that position. Ryan will step down as a Director on 20 April 2018 but will continue to have an active role in the business until 31 December 2018, which will include helping to oversee the half year accounts and help to ensure an orderly transition. He will then be on garden leave until 19 April 2019.

Consistent with his contractual terms, Ryan will be paid salary and benefits in the normal way, will be considered for a bonus for the period of the FY18 actually worked by him and will be eligible to receive outstanding share awards, with long term incentive awards prorated and subject to previously set performance targets. Further details will be available on our website shortly.

Ryan will be succeeded by Chris Carney who will be appointed to the Board as Group Finance Director with effect from 20 April 2018. Chris is currently the Divisional Chairman of the Company’s London and South East Division, a role he has held since 2015. Chris is a Chartered Accountant and having worked in both private practice and for Associated British Foods plc, joined Taylor Wimpey in 2006 as Group Financial Controller, a post he held until 2008. Chris then became the Finance Director of Taylor Wimpey UK (the Group’s main operating company), before undertaking the role of Managing Director of the Company’s South Thames business unit.

The Company is pleased to announce that Chris will be succeeded by Ingrid Osborne as the Divisional Chairman for the London and South East Division. Ingrid has significant operational and commercial experience and is currently the Divisional Managing Director of our Central and East London businesses. She is also a member of the Group Management Team.

The Company also announces the appointment of Jennie Daly to the Board as Group Operations Director with effect from 20 April 2018. Jennie joined Taylor Wimpey in 2014 from Redrow plc, as UK Planning Director, before becoming UK Land Director in 2015. She has a wealth of experience in the housebuilding industry gained from roles which include strategic land oversight at Westbury plc and managing director of Harrow Estates Plc. As Group Operations Director, Jennie oversees our land, planning, design and technical, production and supply chain functions, in addition to managing the Taylor Wimpey Logistics business. Jennie is also a non-executive director of the Peabody Trust.

Kevin Beeston, Taylor Wimpey plc Chairman, said: “On behalf of the Board, I would like to express our sincere thanks to Ryan for his significant contribution to Taylor Wimpey as Group Finance Director over the past eight years and would like to wish him all the very best for the future.

I am also delighted to welcome both Chris Carney and Jennie Daly to the Board as Group Finance Director and Group Operations Director respectively. Both Chris and Jennie are existing members of the Group Management Team and each has a wealth of experience in the housebuilding industry, which will help to further strengthen the Board. I wish Chris and Jennie every success in their new roles. I would also like to wish Ingrid every success in her new role as Divisional Chairman of the London and South East Division. I am particularly pleased that the Board’s active succession planning focus has produced such outstanding candidates, as well as helping to provide further opportunities in the business.”

Ryan Mangold said: “I have thoroughly enjoyed my time at Taylor Wimpey having improved the strength and quality of the balance sheet and, as a member of the senior management team, driven a material improvement in business performance. I leave the Board with the business in a very strong financial position and I wish Taylor Wimpey continued success for the future.”

The Company confirms that the business continues to trade in line with the Board’s expectations and we look forward to updating shareholders further at our AGM on 26th April 2018.