All change at the top as housebuilder maintains course for 2005 expectations.

Housebuilder Persimmon has announced that its founder Duncan Davidson is to retire as chairman and director in April 2006, when he turns 65. Following consultation with a number of the company’s larger shareholders, Davidson will be succeeded by the current chief executive John White.

White, in his turn, will be replaced by Mike Farley, who is Persimmon’s South Division’s chief executive.

At the company’s AGM today Davidson said that sales had continued at a good rate across the UK, but at slightly lower volumes than during the comparative period in 2004. He said: “Current total sales revenue for 2005 is at a similar level to the same date in 2004, at c. £1.4 billion. We therefore remain confident of achieving our half-year expectations.”

Davidson, who founded Persimmon in 1972, has accepted the position of Life President.