Countryside Properties' parnerships CEO to retire after 35 years

FTSE 250 housebuilder Countryside Properties announced that the chief executive of its partnership division, Richard Cherry, is to retire after 35 years.

Cherry will step down from his role on 2 May and take up the new position of group new business director until he leaves the company at the end of September. He will also remain a member of the executive committee until he leaves at the end of this financial year.

Group chief executive Ian Sutcliffe said: "Richard has played a pivotal role in building Countryside into the business it is today, in particular helping establish Countryside as the leading urban regeneration partner."

Graham Cherry, who is currently chief executive of the housebuilding division, will become chief executive of the partnerships south division from 2 May, retaining his current seat on the executive committee.

In addition, Ian Kelley, chief executive of partnerships north will join the executive committee on 2 May.

Phillip Lyons will succeed Graham Cherry as chief executive of housebuilding from 2 May and will sit on the executive committee.

Lyons was previously divisional managing director of London and South East for housebuilder Taylor Wimpey and has over 30 years' industry experience.

Shares in Countryside Properties were up 0.46% to 271.54p at 0802 BST.