Directorate Change

RNS Number : 5867T

Berkeley Group Holdings (The) PLC

07 October 2014

 



The Berkeley Group Holdings plc

Directorate Change

The Berkeley Group Holdings plc today announces that it has appointed Richard Stearn to its board as Finance Director. The date that the appointment will become effective has yet to be finalised but it will be on or before the 30 April 2015. A further announcement will be made in due course.

Richard Stearn, aged 46, is currently Finance Director of Quintain Estates and Development plc. Prior to joining Quintain Richard was Financial Controller at Berkeley from 2002 to 2011 and prior to that appointment was at PwC where he trained and practised as a chartered accountant.

Commenting on the appointment Rob Perrins, Managing Director of Berkeley, said: "We are delighted that Richard has agreed to return to Berkeley as Finance Director and very much look forward to working with him in this role."

On appointment Mr Stearn will receive a basic annual salary of £350,000 and standard benefits commensurate with his position. He will be granted replacement share awards over 45,672 Berkeley shares (subject to various sale restrictions and continued employment) and a cash payment of £359,842 in lieu of his entitlement over Quintain shares that will be forfeit when he joins Berkeley. He will also participate in the Group's bonus and incentive plans. Full details of his total remuneration will be disclosed in the 2015 Annual Report.

No information is required to be disclosed pursuant to Listing Rule 9.6.13R. 

For further information please contact:

Novella                                                                                                                                                020 3151 7008

Tim Robertson/Ben Heath

 

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