Quintain FD steps up to deputy CEO

THE FD of urban regeneration specialist Quintain Estates and Development has moved up to deputy chief executive as part of a management reshuffle.

Rebecca Worthington, who joined the company in 1998, has been promoted following the departure of founding chief executive Adrian Wyatt and his replacement by executive director Maxwell James.

In addition to her role as FD, which she will continue to hold until a successor is found, Worthington is responsible for the group’s regeneration activities at Greenwich Peninsula.

“After 20 years leading Quintain, the time is right for me to hand over the reins to the next generation to take the business forward. I am proud of everything we have achieved and there is no better leadership for Quintain than the combination of Max and Becky,” said Wyatt.

In a separate announcement, the company said that excluding capital movements, adjusted profit before tax for the year was £5.8m.

As at 31 March 2012, net asset value per share fell to 110p. The decrease was driven by a 2.7% fall in valuations, which contributed to a loss before tax of £43.5m.

Quintain further strengthened its balance sheet, with the terms of £373m of its existing debt now extended to 2016.

Worthington originally qualified as a chartered accountant with PwC.