Watkin Jones PLC – Appointment of Chief Executive Officer

Watkin Jones plc

('Watkin Jones' or the 'Group')

Appointment of Chief Executive Officer

Further to the announcement made on 15 January 2018, regarding Mark Watkin Jones' decision to stand down from the Board as the Group's Chief Executive Officer, the Board of Watkin Jones is pleased to announce that following a comprehensive formal search process, Richard Simpson has been appointed to succeed Mark Watkin Jones as CEO.  Richard will be joining Watkin Jones from Unite Group plc ('Unite'), the FTSE250 manager and developer of purpose-built student accommodation, where he was Group Property Director.  Richard will join the Board of Watkin Jones as CEO effective on 2 January 2019.

Outgoing Watkin Jones CEO, Mark Watkin Jones has re-iterated his commitment to provide ongoing support to the Group as CEO for as long as is needed, and upon Richard's formal start date, to work with Mr Simpson during a transitional period to ensure an orderly handover.

Richard Simpson, has significant experience in the student accommodation market having joined Unite in 2005.  During his time at Unite, Mr Simpson held a number of senior roles and, in January 2012, was appointed to the main board as an Executive Director.  Richard's most recent role at Unite was as the Group's Property Director, where Richard was responsible for all aspects of Unite's property portfolio.  Richard was also previously Chair of the British Property Federation's cross-sector Student Accommodation Committee from 2013-2015.  He is currently Non-Executive Director of CityWest Homes, a London based social housing company.  Richard's track record and experience in the sector will be invaluable to the Group as it continues to grow and deliver shareholder returns.

Grenville Turner, Chairman of Watkin Jones plc, said: “The Board is delighted to announce the appointment of Richard Simpson as CEO.  We are pleased to be appointing a CEO with FTSE 250 Board experience as well as a highly recognised industry figure with an immense track record and credibility.  He is well known to the Watkin Jones Board having worked closely with the business on several occasions.  We look forward to a long and prosperous period with Richard at the helm of what is a growing business.”

Mark Watkin Jones, Chief Executive of Watkin Jones plc, said: “I am extremely pleased that I will be handing over my CEO responsibilities to such an experienced and recognised operator in the sector.  Richard's knowledge and first-hand experience of the PBSA sector is significant for the Group.  I will do what needs to be done to ensure a smooth handover, and I will work closely with Richard during the transition period.  I strongly believe I am handing over stewardship of Watkin Jones to the right candidate as the Group enters the next phase of its growth.”

Commenting on his appointment, Richard Simpson, said: “Watkin Jones has a well earned reputation as one of the UK's leading developers with an unrivalled focused expertise across PRS from build to rent to student accommodation development and management.  I am excited by the prospect of working with the Board, senior management and staff to build on the Group's strong foundations and to lead the business in the continued execution of its strategy.”

AIM disclosures

Richard Charles Simpson, aged 42, currently holds or has held the following directorships and partnerships in the last five years:

There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) or Rule 17 of the AIM Rules for Companies.