Crest Nicholson To Try Try’s Truscott

Housebuilder Crest Nicholson has appointed Galliford Try’s boss Peter Truscott to the position of Chief Executive.

Truscott has left Galliford Try with immediate effect and will join Crest Nicholson in September when his current contract expires.

Crest Nicholson Chairman Stephen Stone said: “We are delighted to welcome Peter to Crest Nicholson. We announced last year that we were shifting strategy from growth to cash generation with a strong emphasis on partnerships and other joint ventures, to de-risk the portfolio while delivering more homes. Peter is highly experienced at delivering a broad range of housing needs to customers working with local authorities, housing associations as well as private homebuyers. This, together with his operational and public company experience, will bring strong additional expertise to our team.”

Crest Nicholson has had a challenging time over the last couple of years as the higher-end London and south east market in which it specialises has cooled. Current Crest CEO Patrick Bergin has left after occupying the position for only a year and given Stephen Stone’s comments it seems likely that Truscott has been appointed with a view to steering Crest Nicholson in a new direction.

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Source London Stock Exchange
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