Business

Miller Homes names new boss as takeover deal nears completion

HOUSEBUILDER Miller Homes has appointed company veteran Stewart Lynes as its new chief executive.

Mr Lynes, the current chief operating officer who has been with Miller for 15 years, will succeed long-standing boss Chris Endsor at the end of the month. Mr Endsor will move into the post of executive chairman. John White is stepping down as chairman.

The change comes after a deal was agreed shortly before Christmas that will see Miller be acquired by Apollo, the US private equity group, and its management from Bridgepoint. The deal is expected to be completed in the first quarter of the year.

Mr Lynes said: “It will be a privilege to step up to CEO at an important time for Miller Homes. We have an exceptional team and our position as one of the country’s leading homebuilders means we are well placed to continue our strong performance trajectory. I look forward to leading the business and continuing our strategy of building high quality homes in our core regional markets and creating value for all of our stakeholders.”

Mr Endsor said: “This is a very exciting time for the business and these changes have been planned for several years to ensure business continuity as we move into the next phase of our growth strategy. Stewart is an exceptional leader, the unanimous choice of the board, and we have every confidence in him. As executive chairman, I look forward to continue to work closely with him and all of the Miller Homes team to further enhance our position as a leading UK homebuilder of quality family homes.”

“I would also like to express my sincere gratitude to John White who will step down as chairman from the end of March for his support and commitment to Miller Homes over the last four years. The board and I wish him well for the future.”

Miller builds around 4,000 homes in the UK, mostly in Scotland, the north of England and the Midlands, each year.

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