Taylor Wimpey appoints insider Jennie Daly as new chief executive

Taylor Wimpey has become the first listed housebuilder to appoint a female chief executive, naming Jennie Daly as its replacement for the departing Pete Redfern.

Currently the group’s operations director, Daly will take the hotseat at the £2.8bn turnover company after the firm’s AGM on 26 April. Redfern announced in December that he was standing down after 14 years in the role.

Daly, who turns 52 in April, has worked at Taylor Wimpey since 2014, including four years in her current role and before that as UK land director and UK director of planning. She currently oversees the company’s land, planning, design, technical, sustainability, production and supply chain functions, as well as managing the Taylor Wimpey Logistics business.

Daly was previously managing director at master developer Harrow Estates as well as group land manager at housebuilder Westbury Homes.

Irene Dorner, chair of Taylor Wimpey, said: “Jennie has extensive experience in the housebuilding sector and has demonstrated exceptional leadership and a razor-sharp operational focus. Her strong focus on execution, combined with her customer and people-focused skills, sets her apart from the other candidates we were considering.”

Daly said: “I am energised by the opportunities at Taylor Wimpey and look forward to working closely with the board and our teams to deliver on the significant potential at the company.”

Daly’s basic chief executive salary will be £750,000, with a bonus opportunity of 150% of salary for 2022 and a performance share plan award for 2022 of 200% of salary.

Redfern, who at the age of 37 was the youngest chief executive of a listed company on his appointment in July 2017, will step down as a board member on 26 April. However his notice period runs until the end of the calendar year and he will be available to help the transition.

Redfern told Building’s sister title Housing Today in December that he was standing down for personal reasons. He said the decision was not linked to reports that activist investor Elliott Advisers was building up a stake in the firm.

Taylor Wimpey said last month that it completed 14,087 new homes in 2021, up from 9,609 the previous pandemic-affected year but still below the 15,719 built in 2019.

It said it expects its full-year results due next month to show an operating profit of around £820m, in line with previous expectations.