Watkin Jones appoints Alex Pease as permanent CEO

15th Nov 2023 14:32

(Sharecast News) - Residential construction and development company Watkin Jones announced the appointment of Alex Pease as its chief executive officer on Wednesday, with immediate effect.

The AIM-traded firm said Pease, who had been with the company since 2010, had demonstrated a track record of leadership and innovation within the organisation.

It said Pease had taken on key roles such as group investment director in 2013 and chief investment officer in 2021.

Since 19 July, Alex Pease has served as the interim CEO, leading Watkin Jones through a challenging period marked by significant market challenges.

Under his interim leadership, the company completed the sale of three non-core private rented sector assets, implemented measures to streamline its cost structure, and made substantial progress on various operational initiatives.

Looking ahead, Pease will present updates on those strategic actions and his vision for the future of Watkin Jones in January.

The updates would coincide with the release of its full-year results, providing stakeholders with a comprehensive view of its trajectory under his leadership.

"The board is delighted to announce Alex's appointment as our new CEO," said chair Alan Giddins.

"Over the last four months, as interim CEO, Alex has shown his ability both to lead Watkin Jones and think strategically about the future direction of the business."

Giddins said that while the board ran a complete search process, including several strong external candidates, it was "clear" that Pease was "the outstanding candidate" for the role.

"I and the board very much look forward to working with Alex and the rest of the executive team to deliver on the full potential of Watkin Jones."

At 1410 GMT, shares in Watkin Jones were up 7.98% at 48.7p.

Reporting by Josh White for Sharecast.com.