Askew is chairman-designate of Kidde, the fire and safety product provider and chairman of the Manchester Science Enterprise Centre. From September next year he will be chairman of the merged University of Manchester and Manchester University of Science and Technology.
Taylor Woodrow chief executive Iain Napier said: "I am confident that the board and the company will benefit from his contribution."
Norman Broadhurst, who has served as acting chairman since May will continue as deputy chairman.
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