business

St Modwen chief executive to retire

Bill Oliver will step down from the role later this year after 13 years in post and 17 on the listed group's board

Bill Oliver will leave St Modwen in November after 13 years as chief executive

The long-serving head of regeneration and construction group St Modwen will retire from the listed group later this year after 13 years as chief executive.

Bill Oliver, who also spent 17 years on the Birmingham-based company's board, will leave at the end of November.

Chairman Bill Shannon said today: "Bill has made a significant contribution to both the property industry and St Modwen during his long and successful career as both finance director and chief executive.

"Under his leadership, the company has delivered excellent returns for shareholders and has furthered its reputation as the UK's leading regeneration specialist.

"He has guided the business through significant changes and challenges and has earned the respect of our shareholders, partners, colleagues and the board. Bill will leave St Modwen with our very best wishes."

St Modwen specialises in regeneration and new construction and its major projects include the former MG Rover works in Longbridge where it is creating a new town centre and housing estates on the former home of MG Rover.

It is also behind the new town centre in Hednesford, Staffordshire, the St Matthew's Quarter retail and leisure development in Walsall and the old Goodyear plant in Wolverhampton where it is developing new housing.

Mr Oliver added: "It has been a great privilege to have been part of St Modwen's success over the past 17 years.

"2016 marks the 30th anniversary of the company's listed status and the business remains in a strong position with a portfolio and team in place to deliver excellent future growth.

"I would like to thank all of St Modwen's employees, past and present, for their hard work and dedication and for helping to make my time at the company such a rewarding and enjoyable experience.

"I have been surrounded by an extremely talented senior management team, a number of whom have been with me throughout my career at St Modwen, and I have every confidence that they will continue to drive the business forward."

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