Crest Nicholson has announced its chief executive Peter Truscott is stepping down from the role later this year. He will be succeeded by Martyn Clark, who is currently chief commercial officer (CCO) at Persimmon.
Truscott joined Crest Nicholson as chief executive in 2019 and will remain with the business until the handover to Clark is completed. Clark has been with Persimmon for nine years and was appointed CCO in 2022. Prior to joining Persimmon, he spent 28 years at Bloor Homes.
Iain Ferguson, chairman of Crest Nicholson, said: “Following Peter’s decision to retire from his role as chief executive, I am delighted to announce that Martyn will be joining Crest Nicholson as chief executive. Martyn brings a wealth of experience in the housebuilding industry which will be of huge benefit to Crest Nicholson at this important time for the group. We very much look forward to working with him.
“I would also like to take this opportunity to thank Peter. Peter has led the group through a very difficult and challenging period and has ensured that he hands over a business well positioned to take Crest Nicholson forward.”
Truscott said: “I would like to thank the board and my colleagues at Crest Nicholson. It has been a pleasure to work here and despite challenging market conditions in recent years, the group has made good progress. I will leave the group in good hands when Martyn joins later this year.”
Clark added: “I am looking forward to joining Crest Nicholson and working with the board and wider team in the next phase of the group’s growth.”
In its preliminary results for the financial year ended 31 October 2023, which were published yesterday, Crest Nicholson reported its revenue fell 28% to £657.5m and its adjusted profit before tax fell to £41.4m compared with £137.8m in 2022.
