McCarthy & Stone loses CFO to SIG
Building materials supplier SIG has recruited McCarthy & Stone’s chief financial officer Nick Maddock.
Nick Maddock has been CFO of McCarthy & Stone since September 2011 but will move to SIG in the first quarter of 2017 to take over from Doug Robertson, who at the age of 63 is retiring.
SIG chief executive Stuart Mitchell said that Nick Maddock had “played a key role in McCarthy & Stone's success”.
McCarthy & Stone chairman John White agreed. “Nick has played an important role over the past five years in re-capitalising the company, delivering our growth strategy and preparing us for our successful return to the main market of the London Stock Exchange in November 2015,” he said.
The chairman added: “With the IPO now complete and the first year's results delivered, Nick has decided to move on. He leaves the business in a very healthy financial position, having just recorded a 31% increase in revenue year-on-year and with £52m of net cash on our balance sheet at the year end. We remain firmly on track to meet our medium term target of building and selling at least 3,000 units a year and achieving 25% ROCE."
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This article was published on 11 Oct 2016 (last updated on 11 Oct 2016).