Watkin Jones chair and CFO to leave business

The chair and CFO of listed build to rent and student housing developer Watkin Jones are both to stand down, the firm said in a city update today.

The firm said chair Grenville Turner, previously chief executive of estate agent Countrywide, had decided to retire at the end of this year and that a search for his successor had commenced.

Turner has led the board of the firm since its 2016 listing on the stock exchange, during which time the chief executive of the 200 year-old formerly family-run firm, Mark Watkin Jones, departed.

The firm also said today that its chief financial officer Phil Byrom, who has been with the business for nearly 20 years, is planning to retire next year. It said a search for his replacement had also been begun.

Updating on its performance in the six months to March 31, Watkin Jones also said it had further expanded its development pipeline since its last update in January. The firm now has 4,500 build to rent units in its pipeline, up 69% on the same point last year, with 8,250 student beds also under development.

The firm said profit for the half year would be in line with expectations and construction activites were on track. Shares in the firm fell more than 2% in early trading.