Advertisement
In this episode of Prop Personalities, we sit down with Hars...
Luxury real estate is one of the most talked-about segments ...
Welcome to Prop Personalities by Prop News Time - a podcast ...
Airports play a much bigger role than just enabling travel -...
Why does the same hotel brand operate multiple properties in...
UK homebuilder Vistry has appointed Adam Daniels as its new CEO with immediate effect, replacing Greg Fitzgerald, who stepped down after nine years. The leadership change comes as the company faces margin pressure and weak housing demand. Shares fell following the announcement, reflecting investor concerns. Vistry has warned that rising costs, planning delays and subdued demand will impact profitability through 2026. Daniels, a long-time executive, brings extensive industry experience. The company will continue to focus on cash generation, increasing open market sales and reducing inventory, as the broader UK housing sector remains under pressure.
UK homebuilder Vistry has appointed Adam Daniels as its new chief executive with immediate effect, advancing a planned leadership transition as the company faces margin pressure and weak housing demand. Advertisement
Greg Fitzgerald, who had led the group for nine years, has stepped down from both his roles as CEO and chair by mutual agreement. He was earlier expected to transition to a non-executive chair role in May while continuing as CEO for up to a year.
Following the announcement, Vistry's shares declined nearly 5 per cent in early trading.
The leadership change comes amid challenging market conditions. The company had recently warned that profit margins are likely to remain under pressure through 2026 due to rising costs, planning delays and subdued demand in the UK housing sector.
Adam Daniels, who has over 17 years of experience in the housebuilding industry, has held multiple leadership roles within the company. He joined Countryside Partnerships in 2016, which was later acquired by Vistry in 2022, and most recently oversaw key regional divisions. The company highlighted his experience working with local authorities and housing associations.
In a parallel move, Rob Woodward has assumed the role of non-executive chair with immediate effect, ahead of the previously planned timeline.
Vistry said its strategic priorities remain unchanged. The company will continue to focus on improving cash generation, increasing open market sales and reducing inventory levels.
The firm has faced investor concerns following its recent margin warning and challenges in executing its strategy focused on partner-funded developments. Its shares have declined significantly since early March.
The broader housing sector is also under pressure, with rising construction costs and elevated interest rates impacting demand. Recent global developments have further added to cost pressures, prompting other developers to issue similar margin outlook warnings.
Source: Reuters
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
