4th Mar 2026 11:44
Barratt Redrow PLC - Leicestershire, England-based house builder - Hires Dean Banks as its new chief executive, joining in the fourth quarter of this year and replacing David Thomas, who leaves after 11 years at the helm and 17 with Barratt. Banks joins from Ventia Pty Ltd, a Sydney-based and listed provider of infrastructure services in Australia and New Zealand where he has been chief executive since 2021. Prior to Ventia, Banks worked for construction firm Balfour Beatty PLC and security documents printer De La Rue PLC, and he now will return to the UK. Barratt says Thomas will remain CEO until Banks joins and will remain with the company until March 2027 to allow for a transition.
Following its acquisition of smaller peer Redrow in 2024, Barratt has suffered a "challenging period" for business, prompting it to cut its interim dividend last month. Barratt says it will provide its next trading update on April 15.
Current Barratt stock price: 336.90 pence, down 0.8% in London on Wednesday
12-month change: down 20%
Ventia Services Group Ltd closed down 2.7% to AUD5.67 in Sydney on Wednesday. The stock is up 37% over the past year.
By Tom Waite, Alliance News editor
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