A house move with £45m pay
TAYLOR WIMPEY BOSS STEPS DOWN
THE boss of house-building giant Taylor Wimpey is stepping down – after netting more than £45million.
Pete Redfern oversaw the merger of George Wimpey and Taylor Woodrow in 2007 and became the combined group’s chief executive.
The firm is now one of the country’s biggest house builders, with a stock market value that tops £1.8billion.
Redfern, 51, will step aside once a replacement has been found.
During his 14 years in charge, he raked in more than £45million in pay and perks.
Last year saw him paid £1.1million, down from £3.2million in 2019, and between 2013 and 2015 his annual haul was well over £6million.
There was some controversy in 2019 when it emerged Redfern had been offered a £2.5million luxury flat from the firm at a £436,000 discount. He moved to defuse the row by pulling out of the deal. Speaking yesterday, he said it had been a “privilege” to lead Taylor Wimpey. He added: “The business is in excellent health and is well positioned for strong future growth. Accordingly, I am confident that now is the right time for fresh leadership as Taylor Wimpey starts the next chapter.” The business used the Covid-19 pandemic to double the rate it was buying land for development. It snapped up enough space in a year to build around 30,000 homes.