Announcement re: Board Announcement

RNS Number : 5884T

Quintain Estates & Development PLC

07 October 2014

 



7 October 2014

Quintain Estates & Development PLC

("Quintain" / "Company" / "Group")

Quintain Estates & Development plc Board Announcement

Quintain today announces that Richard Stearn, Finance Director, has given notice of his resignation from the Board of Quintain.  Richard has been appointed Finance Director at The Berkeley Group Holdings plc (BKG) and will take up his new position after leaving Quintain, which will be no later than 3 April 2015.

The Board of Quintain has started a process to identify Richard's successor.  He will remain as Finance Director and a Board member during this time to ensure a smooth and orderly handover.

Richard joined Quintain from The Berkeley Group Holdings plc in January 2012, where he was Financial Controller.

Maxwell James, Chief Executive of Quintain, said: "Richard has made a huge contribution to Quintain since joining the Company in January 2012. Personally, I will miss Richard's valuable input to my team and I would like to thank him for his on-going support over the coming months.  On behalf of the Company and the Board I would like to extend our thanks and wish him well for the future."

Richard Stearn said: "While I am excited about my new role, I will be sad to leave Quintain.  The business has made significant progress in the last two years through the refocusing of the business on London and the actions we have taken to strengthen the balance sheet.  I am proud of what has been achieved already and I will personally miss working with Max and the wider team as they move the business forward to the next stage.  I will, of course, remain fully committed to Quintain during the handover period."

Enquiries:

Quintain Cressida Curtis Tel: [phone] [e-mail]

RLM Finsbury Jenny Davey Charlotte Whitley Tel: [phone] [e-mail]

Notes on financial arrangements:

As a Board member, Richard Stearn's remuneration arrangements relating to this year will be fully disclosed in the 2015 annual report and accounts. In summary, Richard will be paid his base salary and benefits during or in lieu of his notice period.  At the date of his departure, all unvested awards under the QED Incentive Plan will lapse in accordance with the Plan rules and there will be no entitlement to awards under the Plan in respect of the current financial year.

 

END

 

 

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