Croudace Homes Group, the Caterham based privately owned house-builder, has announced the planned retirement of their Chief Executive, Andy Yallop, who has held the top position since 2006.  Andy will leave the Company at the end of the year and be replaced by Russell Denness, who is currently Managing Director of Croudace Homes.

Andy said: “I leave the Company in an excellent position to take advantage of the improving market conditions for house-builders.  Croudace Homes has a significant growth plan for the next five years and all the building blocks for personnel, land and finance are in place to enable the plan to be implemented.  House-building is a cyclical business and management has to swiftly change policies as the market evolves.  We have successfully navigated our way through the recession and are now able to maximise the return for shareholders as a result of the improving market.”

Russell will commence his new role on 1st January 2014.  He will be ably assisted by Allan Carey who will assume the position of Deputy Group Chief Executive in addition to his on-going role as Group Finance Director.

Croudace Homes also announces a number of other appointments following the decision to split the Company into two regions to give added focus to the growth.  Richard Holmans, who was previously Managing Director of Croudace Partnerships, will become Managing Director of the North Thames region based at the Letchworth office; and Paul Underwood, previously Technical Director of Croudace Homes, will become Managing Director of the South Thames region based in the Caterham office.

In addition, in order to give greater emphasis to its land buying activity, two new Directors of Croudace Homes have been appointed: Ben Yallop is the Land Director for North Thames, and Simon Boakes is the Land Director for South Thames.

Andy Yallop said: “I have had 31 exciting and challenging years with the Croudace Homes Group and am now keen to pursue leisure pursuits.  I have worked with Russell for many years, and am certain he has all the attributes necessary to drive the Company forward to even greater success in the future.”

Russell Denness is a Chartered Builder and Chartered Surveyor.  Following graduation, he joined Croudace in 1984 as an assistant site manager in the Construction Division gaining a wide experience of commercial and housing developments.  He became a Business Development Manager in the Partnership housing division in 1994, Sales and Marketing Director of Croudace Homes in 2001, then Commercial Director in 2003 before becoming Managing Director of Croudace Homes in 2006.  Throughout his career he has fervently believed in the primary importance of the customer, reflected in the emphasis he puts on the quality of the Croudace product and service.  Russell is a member of the RICS Southeast Regional Board.

On his appointment Russell commented “I assume my stewardship of the Croudace Homes Group at an exciting juncture.  Under Andy’s leadership we have put in place the land, finance and people to grow the business in what promises to be more favourable conditions.  In doing so, we will bring our considerable knowledge and experience to bear in helping to build the new homes urgently needed for the nation’s social and economic well being.  Croudace has established an enviable reputation for the quality of its homes and the service it provides to its customers, and these will remain key objectives for the Group.”