Russ Mould, investment director at AJ Bell, said: “Two big names in the UK housebuilding sector are set to exit stage left as Vistry’s Greg Fitzgerald and Barratt Redrow’s David Thomas announce their respective retirements.
“Fitzgerald has been instrumental in Vistry’s strategy over recent years, which initially proved successful until an accounting scandal emerged to shake the company’s foundations in 2024.
“Having previously come out of retirement to lead the-then Bovis Homes in 2017, Fitzgerald focused what became Vistry – following a merger with Galliford Try’s housebuilding arm in January 2020 – on regeneration projects and partnerships to deliver affordable housing.
“By sharing the financial load and land risks, the goal was to achieve speedier development.
“The shocking drop in Vistry’s share price can’t purely be attributed to Fitzgerald’s departure.
“He looks set to leave under something of a cloud as, alongside in line full-year results, Vistry warns of margin pressure in 2026 and an end to share buybacks once the current programme is completed as the company looks to get its debts under control.
“To date and under Fitzgerald’s tenure the shares have delivered a negative total return.
“Having faced questions over governance issues – with Fitzgerald occupying the chair and CEO positions at the same time – Vistry is taking the opportunity to separate the two roles.
“There’s a more measured response at Barratt Redrow to Thomas’ departure, where the company has already secured an experienced replacement in the form of Dean Banks.
“He comes from Antipodean infrastructure provider Ventia but also served as a director at Balfour Beatty and De La Rue.”
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