Bovis hires ex Galliford boss while rejecting its takeover bid

April 5, 2017 / Isla MacFarlane
Bovis hires ex Galliford boss while rejecting its takeover bid

Bovis has appointed Greg Fitzgerald, former Chief Executive and Chairman of Galliford Try, as its new Chief Executive. Fitzgerald spent over 30 years of his career at Galliford Try. He will take up his new post on 18 April 2017.

Fitzgerald is a former non-executive Director of the NHBC and is currently non-executive Chairman at Ardent Hire Solutions and Baker Estates Limited.

At the same time, merger talks with Galliford have been swept off the table. Bovis notes the announcement by Galliford this morning withdrawing its merger proposal.

“The Board has reviewed the merger proposal and concluded that it failed to reflect the underlying value of the Bovis business,” Bovis said in a bourse filing. “Accordingly, the Board has decided to reject the proposal as it believes that an independent strategy under the leadership of Greg Fitzgerald will deliver greater value for shareholders.”

Greg Fitzgerald, incoming Chief Executive, said, “Bovis has a great brand, excellent people and a high quality land bank. I very much look forward to working with the management team to restore Bovis’ position as a leading housebuilder and deliver significantly improved returns to shareholders.”

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