Board and Committee Changes

 

Dublin/London, 25 January 2024: Cairn Homes plc (“Cairn”, “the Company” or “the Group”) (Euronext Dublin: C5H / LSE: CRN), a leading Irish homebuilding company, announces a number of changes as part of its ongoing orderly refreshment of the Board.

 

Non-Executive Director and Co-Founder, Alan McIntosh, is stepping down from the Board effective today, having served since the Company’s IPO in June 2015, initially as an Executive Director and as a Non-Executive Director since 2018. Non-Executive Director, Gary Britton, has also informed the Board of his intention to step down from the Board at the end of 2024, having served as a Director since IPO. Orla O’Gorman will succeed Gary as Audit & Risk Committee Chair on Gary’s departure at the end of the year.

 

The following changes will also take effect from today:

 

• Giles Davies assumes the role of Non-Executive Director with responsibility for Sustainability and Environmental Impact.
• Linda Hickey is appointed as the Senior Independent Director succeeding Giles Davies.
• Julie Sinnamon replaces Giles Davies as Chair of the Nomination Committee.

 

There are no further planned changes to Board Committees at this time.

 

John Reynolds, Chairman of the Board of Cairn, commented:

“As we approach the nine-year anniversary of our IPO, we have undertaken a review of the composition of the Board. As part of our ongoing refreshment, and having served for nine years, one of our founders, Alan McIntosh, is stepping down as a Director. Alan and Michael Stanley co-founded the business in 2014, listing in 2015, and Alan can be immensely proud of his pivotal role in creating and supporting the development of Ireland’s leading homebuilder.

Alan’s extensive experience of financing structures, corporate transactions and capital markets has been invaluable. We want to express our gratitude to Alan for his significant contribution to the business and wish him the very best for the future.

Gary Britton, who has also served on the Board since IPO, will step down at the end of the year. We look forward to continuing to work with Gary until his departure from the Board, as he supports an orderly transition of responsibilities as Audit & Risk Committee Chair to Orla O’Gorman. 

We are also pleased to have created a new role on the Board with responsibility for Sustainability and Environmental Impact. The role will be undertaken by Giles Davies, who has an extensive background in environmental protection and conservation financing, making him an ideal candidate to assume this role. This further highlights the significant focus the Cairn Board places on sustainability, and the central role it will play in our decision making in the years ahead.”

 

Alan McIntosh, Co-Founder of Cairn, commented:

“I have been hugely fortunate to work alongside Michael Stanley and the other Board members of Cairn over the last nine years. Michael and I set out with the unwavering passion to create a great homebuilder in Ireland, to set new standards in our industry for quality and sustainability; and to become one of Ireland’s best employers. The entire team at Cairn can be immensely proud of where the business has grown to, from four employees in 2014 to over 4,000 people working across our 20 active sites today. We are immensely proud of what has been achieved and I am confident of the continued success of our business.”

 

For further information, contact:

Cairn Homes plc                +353 1 696 4600

Tara Grimley, Company Secretary

 

Drury Communications               +353 1 260 5000

Billy Murphy

Gavin McLoughlin

Notes to Editors

Cairn Homes plc (“Cairn”) is an Irish homebuilder committed to building high-quality, competitively priced, sustainable new homes and communities in great locations. At Cairn, the homeowner is at the very centre of the design process. We strive to provide unparalleled customer service throughout each stage of the home-buying journey. A new Cairn home is expertly designed, with a focus on creating shared spaces and environments where communities thrive. Cairn owns a c. 16,300 unit landbank across 35 residential development sites, over 90% of which are located in the Greater Dublin Area (“GDA”) with excellent public transport and infrastructure links.