15th Jan 2009 07:00
Barratt Developments PLC
Directorate Change
Barratt Developments plc (Barratt) today announces that Mark Pain, Group Finance Director, has decided to step down from the Board and leave the company at 30 June 2009, the end of the company's financial year.
Barratt's chairman, Bob Lawson, said: 'We are sorry that Mark has decided to leave the company and on behalf of the Board I would like to thank him for the outstanding contribution he has made to the business, particularly during what has become an intensely difficult market.'
Mark Pain said: 'After more than 10 years on company boards as an executive director, I have decided to pursue a wider portfolio of business and personal interests, including additional non executive roles. We have put in place new banking covenants and with our debt falling the company is now significantly better placed. I want to wish Mark Clare and the Barratt team every success in the future.'
A recruitment process for a new Group Finance Director is underway and an announcement will be made once the process has been concluded.
-ENDS-
For further information please contact:
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Barratt Development PLC |
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Dan Bridgett, Head of External Affairs |
020 7299 4873 |
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The Maitland Consultancy |
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Liz Morley |
020 7379 5151 |
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Neil Bennett |
Notes:
Mark Pain was appointed as an Executive Director of Barratt Developments plc on 1 March 2006 and assumed full responsibility as Group Finance Director on 1 July 2006.
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Barratt Developments