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Wed May 29 2024

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New CEO for McCarthy & Stone

25 Oct 12 Mark Elliott is to join McCarthy & Stone as chief executive officer from 1 November.

The appointment follows the announcement of the company’s annual results. In the year to 31 August 2012, McCarthy & Stone generated 1,370 sales, delivering 12% growth in revenue to £257.7m and 10% growth in earnings to a five year high of £39.9m, in spite of the continuing difficult housing market.

At Arena Leisure plc, Elliott oversaw the redevelopment of Doncaster racecourse, the development of Lingfield Park and the creation of a catering business that went on to win contracts at two Olympic 2012 venues. He also negotiated contracts to double the company’s income from its media rights. Mark merged Arena Leisure into Northern Racing in March of this year, creating the UK’s largest racecourse group. Prior to Arena Leisure, he spent 15 years at Wembley plc.

"We're delighted to have Mark joining us,” said McCarthy & Stone chairman Alan Bowkett. “He was the stand-out candidate we interviewed from a long quality list and the company will benefit from the customer focus he brings as a successful chief executive officer of multi-site consumer businesses."

Elliott added: “I am delighted to be joining McCarthy & Stone as it enters a period of rapid growth.  The company is investing in excess of £1.5bn over a five year period in land acquisition and construction and is attracting considerable secondary market interest from investors who are keen to participate in the opportunities this expansion creates.”

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