BusinessCompany NewsTaylor Wimpey FD steps down

Taylor Wimpey FD steps down

Housebuilder announces departure as part of a trading statement

Troubled housebuilder Taylor Wimpey has announced the departure of its
finance director amidst further worries about not being able to raise an
emergency £500m cash injection to rescue its balance sheet.

Peter Johnson is the latest casualty in a shaky sector. Taylor Wimpey has
appointed headhunters to find his replacement.

Johnson, a former Taylor Woodrow FD who played a key role in the merger with
George Wimpey to form the UK’s second biggest housebuilder, announced the
departure formally in a half-year trading statement.

The housebuilder has already admitted it needs the cash injection to stay
afloat, as it sought to write down the value of its land holdings by £66om.

It is also in crunch talks with its bankers to seek waivers to its covenant
obligations in return for raising equity.

Johnson steps down at the end of 2008, the company said.

Further Reading:

Read
the Trading Statement

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor