Inland Homes, a prominent U.K. house builder, has announced the appointment of Jolyon Harrison as its new chief executive officer. This announcement coincides with the decision of Chief Financial Officer and acting CEO, Nishith Malde, to retire.
Acquisition of NorthCountry Homes
In addition to the management changes, Inland Homes has also revealed its plans to acquire NorthCountry Homes. The consideration for this acquisition amounts to £4 million ($5.1 million) and will be settled through the issuance of 40 million new ordinary shares in Inland.
Jolyon Harrison’s Background
Jolyon Harrison brings a wealth of experience to his new role as CEO. With over 50 years of experience in the house building industry, including a tenure as CEO of MJ Gleeson from 2014 to 2019, Harrison is well-equipped to lead Inland Homes into the future.
Nishith Malde’s retirement
Nishith Malde, the current Chief Financial Officer and acting CEO, will retire from his position following an appropriate handover period. While stepping down as a director of Inland, Malde will remain available in an advisory capacity for a year.
Inland Homes emphasizes that the acquisition of NorthCountry Homes is subject to various conditions, including legal and financial due diligence, shareholder and regulatory approval, and the restoration of Inland’s share trading.