Taylor Wimpey Chair to Step Down

Taylor Wimpey (LON: TW.) announced Friday that the chair of its board will step down from her role for personal family reasons.

After the company's 2023 Annual General Meeting on Thursday, 27 April 2023, Irene Dorner will leave the role but remain as a non-executive director.

Robert Noel, currently Taylor Wimpey's senior independent director, will assume the role of chair. The company said it conducted a thorough review of internal and external candidates.

Noel, who has 30 years of experience in the property sector, joined the company's board as an independent non-executive director in October 2019 and moved into the senior independent director position in April 2020.

“On behalf of the board, I would like to thank Irene for her outstanding contribution as chair successfully leading the board over the last three years. We welcome her agreement to remain on the board, allowing us to continue to benefit from her wide experience and counsel, and wish her family the best for the future,” said Lord Jitesh Gadhia, TW's independent non-executive director, who led the search process.

“We are delighted to announce the appointment of Rob Noel as Chair to succeed Irene following the conclusion of the next AGM. Rob is well-respected amongst his colleagues and his familiarity with Taylor Wimpey, and long track record in the property sector, provides excellent commercial experience and continuity of leadership as we face a changing market environment.”

Taylor Wimpey shares are down 2.4% at the time of writing Friday.

Last week, UK housing stocks dipped on the news that average house prices in the UK posted their largest monthly drop since October 2008 and the third consecutive fall, according to Halifax.