Taylor Wimpey builders
(Picture: Taylor Wimpey)A shake-up at the top of under-pressure Taylor Wimpey continues as it waves goodbye to two more board directors.
Angela Knight CBE and Gwyn Burr will both retire from the board in April.
Knight, who has served as an independent director since 2016, is stepping down after being made chair of Pool Re and seeing her duties on the board of Provident Financial expanded.
Burr, an independent director since 2018, is leaving to chair an unnamed financial services company, with the appointment yet to be announced.
The departures means Taylor Wimpey is set to see a third of its 10-person board turnover this year. CEO Pete Redfern is stepping down after almost 15 years in charge and will leave the board later this year when a replacement is found.
In recent months Taylor Wimpey has come under pressure from activist investor Elliott to shake-up its leadership. Elliott, which claims to be a top five shareholder, published a letter in December calling for management changes at the house builder.
Elliott urged the board to hire an external candidate as Redfern’s replacement and put in place “governance enhancements” to address “a series of operational and strategic missteps [that] has resulted in persistent share-price underperformance.”
The activist investor reportedly favours former Persimmon boss Dave Jenkinson to take the reigns.
Taylor Wimpey said a search for Knight and Burr’s replacements was under way.
Chair Irene Dorner said: "Angela has given the Board much valued counsel across the business over the last five years and has been an asset to both the Board and Taylor Wimpey.
“Gwyn has provided an invaluable contribution, particularly in the important areas of customer service and employee engagement, as well as being an excellent Chair of our Remuneration Committee.
“We wish both Angela and Gwyn all the best in the future."
Shares were unchanged.
