The chief executive of Vistry is to also become its new chairman, an unusual arrangement that flouts the UK corporate governance code and has raised eyebrows in the City.
Greg Fitzgerald will take over as chairman of the housebuilder in May when Ralph Findlay, the former boss of pubs group Marston’s, leaves after nine years on the board.
Vistry defended the move, insisting that having Fitzgerald as both its executive chairman and chief executive “will ensure continuity and maintain momentum in the execution of the group’s strategy”. Findlay, 62, said there is “nobody better placed than Greg” to lead the business forward.
The vast majority of companies listed in London have separate chairs and chief executives, in accordance with the UK corporate governance code’s recommendation.
