The chief executive of Redrow is stepping down in June to make way for a new COO
The Barratt Redrow shuffle sees Redrow chief executive, Matthew Pratt, announce his stepping down in June this year.
This announcement follows the announcement that Steven Boyes, COO and deputy chief executive, will retire in September.
A new COO will step forward in the Barratt Redrow shuffle
Mike Roberts, current regional managing director of the Northern Region of the merged firm, will step forward as the new chief operating officer.
Today, Barratt Developments published a trading update outlining the firm’s performance and showing that, as of 30 March 2025, they maintained sheet strength of £508m net cash, and a year-end net cash is expected around £0.5-0.6bn.
Nine divisional offices have been or are currently being closed across both businesses, and nine planning applications have been submitted, while a wider integration programme has progressed and is currently still on target to deliver £100m of cost synergies.
The firm has also maintained a five-star homebuilder status for the 16th year running.
“I am immensely proud to have contributed to the coming together of these two exceptional businesses”
Matthew 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.”
David Thomas, Group chief executive officer, 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.”
Speaking on the trade update, David Thomas said: “Our customer focus and unique offering across the Barratt, David Wilson and Redrow brands have continued to drive homebuyer demand and performance this quarter, leaving us well placed to deliver housing volumes in line with our full year guidance.
“The operational integration of Barratt and Redrow is nearing completion, and we are making good progress on both cost and revenue synergies. In addition to realising the power of our differentiated brands, we are also focused on unlocking the full potential of our enhanced land position. This has been further supported by the government’s proposed planning reforms.
“The fundamentals for our industry remain strong, with a clear need for new homes across all tenures and a national focus on accelerating delivery. We have the scale, industry partnerships and unrivalled credentials in quality, service and sustainability required to capture the opportunities ahead and deliver growth.”
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