David Thomas joined Barratt 17 years ago and led it through recent merger with Redrow
The country’s biggest housebuilder Barratt Redrow has announced the retirement of its long-time group chief executive David Thomas and named Dean Banks as his successor.
Thomas joined Barratt 17 years ago and became group chief executive 11 years ago, leading the firm through its recent merger with Redrow.
Dean Banks, who was chief executive of Balfour Beatty UK construction services for five years, will join Barratt Redrow in the final quarter of this year.
Since 2021, Banks has been serving as group chief executive at Ventia, an infrastructure provider working across Australia and New Zealand.
After stepping down from the top job, Thomas will remain with the group until March 2027 to ensure a smooth transition.
Caroline Silver, group chair, thanked Thomas for his “outstanding leadership and dedication” and said Banks would bring “strong experience as a public company chief executive, with deep knowledge of the construction and infrastructure sectors and a proven track record of value creation”.
Banks said he was “proud and privileged” to be joining the firm and said he looked forward to building on its “strong foundation” and delivering “long term value for customers, shareholders and communities”.
Thomas said it had been a “privilege” to serve at the helm of Barratt Redrow and that he was “incredibly proud of what we have achieved over the last 11 years”.
“We have built a strong, disciplined and customer-focused business, delivering real value for shareholders, and creating thousands of high-quality sustainable homes and developments across the country,” he said.
“I want to thank my colleagues across the organisation for their hard work, commitment and support. I look forward to continuing our work together over the coming months before handing over to Dean and I wish him and everyone associated with Barratt Redrow every success for the future.”
Barratt Redrow reported a drop in reservation rates and a fall in adjusted pre-tax profit in half-year results published last month.
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