Search to begin for a replacement soon, investment plan to lead company to 2018
McCarthy & Stone chief executive Mark Elliott has announced he will be stepping down at the end of February 2014.
Chairman, John White, commented: 鈥淢ark will be leaving the business well-financed and in a strong position to take advantage of a significant market opportunity in the retirement apartments sector. The shareholders and directors thank him for all of his efforts and acknowledge his role in moving the business forward.鈥�
The latest financial year saw the company increase its revenue by 21% to 拢310.8m and saw a 15% growth in EBITDA to 拢46m.
A 拢527m refinancing, announced in August 2013, brought new shareholders to the company.
Following the refinancing, Elliott has led the company towards a plan to invest 拢1.5bn in land and developments through to 2018.
McCarthy and Stone will soon begin the search for a replacement.
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