Board changes

• Stewart Lynes to be promoted to CEO
• Chris Endsor to become Executive Chairman

Miller Homes (the “Company”), one of the UK’s leading homebuilders, is pleased to announce that Stewart Lynes is to be appointed as Chief Executive Officer.  He will succeed current CEO Chris Endsor, who will become Executive Chairman. These changes will be effective from the end of March 2022.

Stewart will assume responsibility for the overall management of the business.  He joined Miller Homes 15 years ago and has held various senior positions during that time including Chief Operating Officer since 2019.   Stewart has consistently demonstrated his passion and enthusiasm along with his ability to help drive the successful delivery of the company’s strategy and track record.

Chris Endsor will step up to the role of Executive Chairman with responsibility for leadership of the Board and will work closely with Stewart to develop and support the Company’s strategy for future growth. 

Commenting on the changes, Chris Endsor, Executive Chairman, said: “This is a very exciting time for the business and these changes have been planned for several years to ensure business continuity as we move into the next phase of our growth strategy.  Stewart is an exceptional leader, the unanimous choice of the Board, and we have every confidence in him.  As Executive Chairman, I look forward to continue to work closely with him and all of  the Miller Homes team  to further enhance our position  as a leading UK homebuilder of quality family homes.”

“I would also like to express my sincere gratitude to John White who will step down as Chairman from the end of March for his support and commitment to Miller Homes over the last four years.  The Board and I wish him well for the future.”

Stewart Lynes, Chief Executive Officer, added: “It will be a privilege to step up to CEO at an important time for Miller Homes. We have an exceptional team and our position as one of the country’s leading homebuilders means we are well placed to continue our strong performance trajectory. I look forward to leading the business and continuing our strategy of building high quality homes in our core regional markets and creating value for all of our stakeholders.”

On 24 December 2021, Apollo (NYSE: APO) and Miller Homes announced that funds managed by Apollo affiliates (Apollo Funds) together with existing management, entered into a definitive agreement to acquire the Company from Bridgepoint Group plc (“Bridgepoint”).  The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2022.

Miller Homes currently builds approximately 4,000 homes a year across the UK, predominantly in Scotland, the North of England, and the Midlands, with ambitions to grow to 6,000 units in the medium-term. The Company recently announced the opening of its tenth regional office in Northampton to cover the South Midlands, becoming one of the first major homebuilders to establish a new regional base since the start of the pandemic.

ENDS

Media enquiries:

TB Cardew (Financial PR Adviser)                                                                                     miller@tbcardew.com

Ed Orlebar                                                                                                                                      07738 724 630

Shan Willenbrock                                                                                                                            07775 848 537