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Vistry Shares Rise After Naming Severn Trent's Helen Miles as New CFO
Vistry Group PLC (LSE:VTY) shares rose 4% on Thursday after the company announced it had appointed Helen Miles as its next Chief Financial Officer and executive director. Miles, who is currently the CFO of FTSE 100 water utility Severn Trent PLC, is expected to join Vistry's board in 2027.
Leadership Transition
The appointment follows what Vistry described as a comprehensive internal and external search. Helen Miles has served as CFO at Severn Trent since July 2023, having previously joined the company in 2014 as its Chief Commercial Officer. Her prior experience includes CFO roles at HomeServe Plc and Openreach, a division of BT Group.
To manage the transition period, Vistry also announced that Robert Allen has been appointed as interim CFO and will join the Board with immediate effect. Allen will hold the position until Miles's arrival. He most recently served for four years as CFO of The Crown Estate and was previously the finance chief at Intu Properties Plc and Crest Nicholson Plc.
AdMarket Reaction and Commentary
Investors reacted positively to the high-profile appointment, with Vistry's stock trading up 4% following the announcement. The move is seen as a significant step in strengthening the company's executive leadership team.
"Helen is a high calibre finance and business executive who I am confident will work with the Board, Adam and the rest of the leadership team to maximise the strengths and opportunities of the Group’s mixed tenure partnership model," said Rob Woodward, Non-Executive Chair of Vistry. The company's CEO, Adam Daniels, added that the appointment "further strengthens the quality of the company’s executive leadership."
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