Strategy & Operations » Leadership & Management » Barratt cements foundations by promoting FD to CEO

HOMEBUILDER Barratt has promoted group FD David Thomas to group chief executive.

Thomas, who has held the FD role since 2009, will take over from long-serving chief Mark Clare in July.

Described as a “very strong successor” by chairman John Allan, Thomas has led the finance function during a ‘rebuilding’ phase in Barratt’s existence, following the dip in house prices caused by the financial crisis in 2007.

Thomas has held a number of senior finance positions, including tenures as FD at GAME Group and Millennium and Copthorne Hotels. The search for his replacement at Barratt is now underway.

“We are confident that David will lead the group very effectively and will deliver both the medium term targets for the business and the longer term strategy,” said Thomas.

Thomas said: “I am delighted to be stepping up to chief executive and look forward to continuing to work with [COO] Steven Boyes and our industry leading management team. In the last few years we have been able to deliver considerable improvements in shareholder returns and we have a clear strategy in place to continue our progress.”

A keen golfer and angler, the 52-year old is also trustee of the Croydon Charitable Foundation.