TIDM46QW

RNS Number : 1094F

Peabody Capital PLC

13 November 2020

Peabody Capital plc/ Peabody Capital No 2 plc

Chief Executive Officer Brendan Sarsfield to step down from Peabody

Brendan Sarsfield is to step down from his role as Peabody Chief Executive in summer 2021.

Brendan took charge in July 2017 following the merger of Peabody and Family Mosaic and successfully led the integration and amalgamation of the two organisations. His 20 years as a Chief Executive demonstrate a strong track record of championing social purpose and delivering more social housing for those most in need.

Peabody now provides 66,000 homes for around 133,000 residents. The Peabody Group also provides care and support services for over 18,000 people, invests around GBP9m per year in its Community Foundation, and last year started building over 2,350 new homes.

The Group has a strong executive team and investment programme in place. With total assets of around GBP8bn, over GBP1.4bn of available funding, and revenues in the last financial year of GBP662m, Peabody invested GBP426m on new and existing homes in 2019/20.

Peabody will now start the search for a new Chief Executive to take the 158 year old organisation forward.

Peabody Chairman Lord Kerslake said: "It has been a great pleasure working with Brendan over the last few years. Under his leadership, we have prioritised social rented homes at low rents for people in need. We've highlighted the challenges our customers face, making the case for a fairer social security system and better pay for people on low incomes. We've expanded our care and support offer and we've made great progress in modernising services, building quality homes and improving neighbourhoods through challenging times. His commitment to our social purpose and Peabody has been highly effective, and I wish him all the very best for the future."

Commenting on his move, Brendan said: "It has been a great privilege to lead Peabody, but after 20 years as a chief executive, I feel it is the right time to start looking at new challenges and opportunities. I'm so proud of what we've achieved together during my time. I want to say thank you to all of my Peabody colleagues and those I have worked with since 2001. Thank you for your support, your hard work, and for your dedication to helping people make the most of their lives. It's been an honour to play my part in the legacy of Peabody and I look forward to welcoming my successor on board."

For more information, contact: Benjamin Blades, Head of External Affairs, Peabody on 07875020950 or Benjamin.blades@peabody.org.uk

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November 13, 2020 02:00 ET (07:00 GMT)

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