Inland Homes welcomes second CEO in under 12 months
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Inland Homes has revealed its new chief executive alongside plans for a £4m acquisition of rival North Country Homes.
The London-listed real estate development firm has appointed Jolyon Harrison as head of the company.
This is the company’s third CEO in a short period of time, as former chief Stephen Wicks stepped down last September following the issuing of a £37m pre-tax profit loss warning for the year.
Inland then appointed former Galliard boss Don O’Sullivan, however he quit less than over a month into the role, after he and the group reached a “mutual agreement”.
It has been a rocky period for the business as its shares have been suspended since April, after it did not publish its annual audited accounts.
Upcoming boss Harrison has been in the industry for over 50 years and served a chief of construction group MJ Gleeson between 2014 and June 2019, having joined the group in 2009 and previously been managing director of Gleeson Homes.
Prior to this move the 75-year old was founder and chairman of Pelham Construction and NorthCountry Homes Group and was also managing director of Shepherd Homes.
It comes as the group is waving goodbye to its chief financial officer and acting chief executive officer, Nishith Malde, who will step down following a handover period.
“Jolyon is a proven leader, with a strong track record of operational, strategic and commercial success in construction and property development. The whole Inland team looks forward to his contribution to this next stage of Inland’s corporate development,” Matthew Robinson, chair of Inland Homes, said.
Inland has also revealed plans to acquire accessible housing firm NorthCountry for a consideration of £4m, to be settled by the issue of 40 million new ordinary shares in Inland Home.
Harrison played a role in founding the company and currently has a 51 per cent stake in the business.
“We will be expanding the low cost homes business model of NorthCountry in the North of England, based in Wakefield, taking advantage of low Northern land values and developing the Inland brownfield and strategic land business in the South where land values are high, as well as completing Inland’s existing construction commitments,” Harrison said.