Croudace announces new group chief executive

Adrian Watts has been named as group chief executive of privately-owned housebuilder Croudace Homes Group.

The appointment was announced in conjunction with the news that Russell Denness, who held the position of group chief executive for nine years, has retired. 

Watts’ promotion comes four years after he joined the firm and exactly a year after he was made group deputy chief executive. 

A qualified surveyor, Watts was West London MD at Redrow prior to joining Croudace, and spent nine years from 2007 to 2016 at Bellway. He has also held roles with other housebuilders including Dandara, Persimmon, Miller and Lovell.  

“I am excited about this next stage in Croudace’s long history. Despite the recent political and economic turmoil, the housing market has stabilised, with inflation and interest rates set to subside over the next 12-18 months,” Watts said in a statement.

“There is a fundamental shortage of housing in the UK and, thanks to Russell’s leadership, we have in place the land, finances and people to meet the challenges and opportunities this brings. Croudace has established an enviable reputation for the quality of its homes and the service it provides to its customers and these will remain key objectives for the group.” 

Denness, who left the company at the end of May, said in a statement: “I am leaving behind a first-class team of people, a highly capable and experienced senior executive team, led by a skilled, enthusiastic and determined new group chief executive, Adrian Watts. 

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“Whatever the challenges facing the business in the coming years, I have great faith that they will be overcome and that the Croudace success story will continue.”

Croudace Homes also announced the appointment of Karly Williams as managing director of its North Thames regional office, based in Letchworth. Williams has more than 20 years’ of experience in the housebuilding sector, most recently as operations director for Barratts.