Peabody Capital PLC Peabody and Catalyst announce proposals (9636G)
30 Julho 2021 - 5:00AM
UK Regulatory
TIDM46QW
RNS Number : 9636G
Peabody Capital PLC
30 July 2021
Peabody and Catalyst announce proposals to join together
Peabody and Catalyst have today announced proposals to join
together to create a better, locally focused organisation. Both
organisations' Boards believe there are significant benefits for
residents in joining together, and are now launching consultations
with residents to seek their views.
With scope to invest and innovate more in services, homes,
communities, technology and people, the organisations believe the
proposal would allow them to go further and faster with plans to
improve service delivery and ways of working. Their combined
financial capacity would allow them to share resources, be more
efficient and meet their commitment to build affordable homes and
places with safety, quality and energy efficiency at the core.
If the proposals go ahead, the combined organisation would be
led by Ian McDermott. Ian McDermott will also be taking over as
(interim) CEO of Peabody when Brendan Sarsfield leaves at the end
of September. Peabody Chair, Lord Kerslake will be Designate Chair
for the new organisation and Ravi Rajagopal, Chair of Catalyst will
be Designate Vice Chair.
Ian McDermott, CEO of Catalyst and designate CEO for the
combined organisation, said:
"We believe that we can go further and faster together. With our
shared, aspirations and geographical reach, we can create an
organisation which has customers at the front and centre of its
thinking and planning. We will have a stronger local focus and be
more connected with our communities. We can combine this with the
benefits of scale and the ability created by the larger
organisation. It is difficult to imagine two organisations with
more closely aligned values and vision for the future."
Lord Kerslake, Chair of Peabody and designate chair for the
combined organisation, said:
"Our new association will have around 100,000 homes, and I
believe that this scale, combined with our local knowledge, will
enable us to provide valuable insight from our residents'
experiences to help better inform policy and have a positive impact
on life chances. We'll look forward to working with government and
partners to develop innovative solutions that improve services to
customers, enhance building safety and reduce carbon
consumption."
The organisations will be launching resident consultations in
the summer to gather their views, before the respective Boards
consider feedback and decide whether to proceed with the proposals
in the Autumn. The proposal envisages Catalyst joining Peabody in
Spring 2022, as a subsidiary.
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