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Tue June 15 2021

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McCarthy & Stone CEO quits

20 Nov 13 McCarthy & Stone CEO Mark Elliott, who only joined the company in November 2012, is leaving in February, the company has announced.

A replacement is now being sought.

Chairman John White credited Mr Elliott with overseeing the recent £527m refinancing of the business and leaving the specialist retirement home builder stronger than he found it.

In the latest financial year ending 31 August, Mr Elliott led the company to a 21% growth in revenue to £310.8m and posted a 15% rise in EBITDA to £46m. The refinancing, which brought on board new shareholders, was announced on 20 August 2013.

“Mark will be leaving the business well-financed and in a strong position to take advantage of a significant market opportunity in the retirement apartments sector,” his chairman said. “The shareholders and directors thank him for all of his efforts and acknowledge his role in moving the business forward.”

Mark Elliott was previously CEO at Arena Leisure where he oversaw the redevelopment of Doncaster racecourse and the construction of a Marriott hotel at Lingfield Park racecourse. Before that he spent 15 years at Wembley plc, latterly as CEO.

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MPU

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