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Countryside Partnerships PLC on Wednesday said Non-Executive Chair John Martin is stepping down immediately, after just a year in post.
Martin joined the Brentwood, Essex-based housebuilder and urban regeneration company as chair in May last year.
No reason was given for his departure. Countryside last month said it had opened a formal sales process. This followed a bid approach and a ‘meaningful’ number of shareholders believing Countryside would be in a better position as a privately-owned company, or as part of a larger business.
Countryside said that Senior Independent Director Douglas Hurt will succeed Martin as chair. Hurt joined Countryside's board back in 2018.
Meanwhile, Amanda Burton has been appointed as senior independent director.
Amid the sudden departure, Countryside said there is no change to its previous full-year guidance for the 12 months ending September 30.
Hurt said: ‘We are sorry to see John Martin go and would like to thank John for his dedication, commitment and significant contribution to Countryside.’
Shares in Countryside Partnerships were down 1.0% to 242.60 pence each in London on Wednesday morning, while the wider FTSE 250 index was down 0.5%.
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