MJ Gleeson has revealed that following extensive discussions, CEO Jolyon Harrison will step down from his position due to a dispute over pay and succession
MJ Gleeson said that, after discussions with Jolyon Harrison, its board concluded that “it was not possible to find a mutually acceptable basis for Mr Harrison to continue as chief executive officer”.
Jolyon Harrison was appointed chief executive officer seven years ago and received a total package worth £2.9m last year.
Jolyon Harrison has stepped down with immediate effect.
MJ Gleeson said: “Following discussions with Harrison regarding his remuneration and succession planning, the board concluded that it was not possible to find a mutually acceptable basis for Harrison to continue as chief executive officer.”
James Thomson will join the board as chief executive officer on an interim basis with immediate effect. Thomson was formerly chief executive of Keepmoat Homes, a private equity owned housebuilder selling over 4,000 homes a year, and where Thomson remained a non-executive director and shareholder.
“The Board is initiating a search process, which will include both internal and external candidates, to identify a long-term CEO appointment,” MJ Gleeson commented.
The housebuilder is expected to issue its next trading update in early July.