Pratt to depart as Barratt Redrow rings the changes

Chief executive of Redrow for five years up to the housebuilders’ mega-merger last year, Matthew Pratt will step down from that position and the new company’s board at the end of June.

Pratt will remain available to the firm until 31 December.

With Pratt stepping down and the previously announced retirement of chief operating officer and deputy chief executive Steven Boyes to come in September, the executive directors on the board from that point will be David Thomas as chief executive and Mike Scott as CFO.

David Thomas, group chief executive, said: “Following a successful 22 year career at Redrow plc, including five years as CEO prior to the combination, Matthew has had a key role in the smooth and effective integration of Barratt and Redrow. I would like to thank him for his valuable contribution to the combined business.”

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Pratt said: “It has been a privilege to work alongside such talented and committed colleagues, and I am deeply grateful for their role in shaping Redrow into one of the UK’s leading housebuilders.

“As we approach the final stages of operational integration, I am immensely proud to have contributed to the coming together of these two exceptional businesses. I wish Barratt Redrow every success as it embarks on this exciting new chapter.”

The Competition & Markets Authority cleared the £2.5bn merger of Barratt and Flintshire-headquartered Redrow in October last year, in a year that had also seen North East-headquartered Bellway circling Crest Nicholson, before pulling out of a bid of around £700m.

Mike Roberts, currently regional managing director of Barratt Redrow’s Northern division, will take over as COO in September, although that will not be a PLC board position. Roberts is a Barratt Developments man by background, joining in 2004 and being appointed as Northern region MD in 2017.

On Roberts’ promotion, Thomas said: “I am pleased that Mike Roberts has been promoted to the role of COO and will join our executive committee.

“After more than 20 years in multiple senior roles in Barratt, Mike has a comprehensive understanding of what Barratt Redrow needs to do to continue to be the UK’s leading homebuilder and deliver for all our stakeholders.”