Gentoo strikes gold after recovering from turmoil
A major housing association has hailed its turnaround, just three years after it was slammed over payoffs to bosses in a damning report by regulators.
Gentoo, which provides homes for more than 60,000 people in Sunderland, has been handed the Government’ s gold standard‘ G 1’ mark for governance, following its latest assessment.
The achievement comes after the organisation said it had been ‘seriously let down’ and left facing ‘turmoil’ by its former executives and board members.
“I am immensely proud of the way in which colleagues have worked to make so much positive progress for the organisation,” said chief executive Nigel Wilson.
“I would like to take this opportunity to thank all colleagues and board members for their hard work and commitment, as without them, this achievement would not have been possible.
“Whilst this is a hugely important milestone for Gentoo, we recognise that we still have some challenges to overcome and we will continue to drive forward positive change for our tenants and for Sunderland.”
Wilson was speaking following the publication of findings by the Regulator of Social Housing.
According to its latest report, the watchdog felt able to give Gentoo it’s top G1 mark for governance after being satisfied it had been overhauled enough to ‘adequately control the organisation’.
According to an assessment released in September last year, ‘significant weaknesses’ had previously been found, particularly over its process for reviewing pay for the housing association’s executives.
The latest developments have been welcomed by city leaders, who said overhauls at Gentoo, one of Wearside’s biggest employers, in recent years had repaired trust with the local authority.
Sunderland City Councillor Phil Tye, chairman of the ruling Labour Party group, said: “This allows the group to concentrate on things which are important to residents and gives them confidence things are back to where they should have been.
“The relationship between the city council and Gentoo has been restored – to say it was difficult [in previous years] is an understatement – but it now seems a priority for the two to work hand in hand.”