McCarthy Stone has announced that senior industry figure Matthew Pratt will be starting as its new CEO from January 2026.
Pratt has been at Redrow for some 22 years, including five as CEO where he led the company’s merger with Barratt Developments.
He replaces John Tonkiss, who will be stepping down in November 2025 following seven years in the role. Tonkiss’s successes include establishing rental as a form of tenure within the retirement sector, and establishing the Older Persons Shared Ownership (OPSO) scheme with Homes England.
Paul Lester, chairman of McCarthy Stone, said: “After 12 years at McCarthy Stone, we say farewell and a huge thanks to John for his contribution to the business and for taking it to where it is today. As CEO, John successfully transitioned McCarthy Stone from a public to private company, and navigated the business through Covid-19 and the challenging external environment that followed.
“In Matthew we have a CEO that has over 20 years of UK housing sector experience, and over five years as CEO of a FTSE 250. Having successfully merged Redrow to create the UK’s leading housebuilder, we know he has the skills and experience to take McCarthy Stone forward.”
Pratt commented: “I’m delighted to be joining McCarthy Stone at such a pivotal time for the industry. I look forward to building on the company’s outstanding reputation for customer service and for delivering the high-quality homes the country urgently needs. After nearly 23 years with Redrow, I see many parallels between the two businesses, particularly in serving the growing downsizer market — an area where McCarthy Stone continues to lead.
“I believe there is now an exciting opportunity to redefine this sector. Together with the team, I’m eager to grow the business and uphold the values that have made McCarthy Stone such a trusted and respected name in British housebuilding.”
Tonkiss said: “I am immensely proud of what we have achieved in my 12 years with McCarthy Stone. We have weathered significant challenges for the sector and are emerging as a more customer-focused business. Most of all, I am proud of what we have done in leading the retirement sector, providing excellent services to over 22,000 customers, developing over 540 communities across the country, and creating the McCarthy Stone Charitable Foundation.
“Now is the right time to pass the baton onto Matthew. He has the track record and experience to deliver on McCarthy Stone’s potential and take it to the next level.”
