Former banker to join housebuilder in December
Taylor Wimpey has named Irene Dorner as successor to current non-executive chair Kevin Beeston, who steps down next year.
Dorner (pictured), a former head of HSBC in the US, will join the housebuilder as chair-designate and an independent non-executive director at the beginning of December and assume the chair role after the firm announces its 2019 results on 26 February next year.
Beeston, who became Taylor Wimpey’s chair in 2010, will step down at the same time. Last year he earned an overall salary package of £309,000.
Taylor Wimpey announced in March that as a result of changes to the UK’s governance code covering the length of time an individual can remain at company chair, it was looking for a replacement for Beeston.
A qualified barrister, Oxford-educated Dorner is currently an independent non-executive director at French insurance giant Axa and Rolls-Royce.
As well as heading up HSBC’s US business between 2011 and 2013, she chaired Virgin Money last year.
Dorner described her appointment as “an immense privilege”, while Beeston said he was stepping down from his position “with the business in great shape and with a clear strategy, strong leadership position and sound platform in place to take the company forward”.
Earlier this year, Taylor Wimpey said it had joined a number of housebuilders in planning to scrap leases which saw ground rents double every decade.
The housebuilder also revealed it had tweaked the criteria it will use for rewarding senior executives this year as it prepares a new remuneration policy to present to shareholders in 2020.
The firm said it had added build quality and order book conditions to bonus requirements for the firm’s top management team and removed the element relating to the conversion of operating profit into operating cash flow.
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