Reshuffle at housebuilder sees Colin Lewis step down as regional chairman and John Tutte promoted to group managing director
Redrow has parted company with director Colin Lewis in a reshuffle that sees John Tutte promoted to group managing director.
Tutte, Redrow鈥檚 regional chairman for the east of the country, has been a main board director at the housebuilder since 2002.
Lewis was regional chairman for the west of the country and has been with Redrow since 1991.
In a statement to the Stock Exchange this afternoon Redrow said: 鈥淎s part of an internal management restructuring Tuttle will assume responsibility for management of each of the operating companies of the Group.
"As a result of this restructuring, the two separate positions of regional chairman for the eastern and western regions will no longer apply and as such Colin Lewis will be stepping down from the board and leaving the group."
Last week Redrow posted a pre tax loss of 拢140.8m after writedowns of more than 拢300m.
Unveiling the results chairman and founder Steve Morgan, who this year returned to the helm of the company, said: 鈥淚've only been back for five months and when I left in November 2000 we were very much in the family marketplace.
"But the management then took the company to a different sector where I don't feel particularly comfortable, where that sector is suffering the most. I'm steering the ship back to its old direction.鈥�
No comments yet