Thursday 19 September 2019

Glenveagh CEO Justin Bickle quits as losses decline

Outgoing Glenveagh Properties chief executive Justin Bickle
Outgoing Glenveagh Properties chief executive Justin Bickle
Ellie Donnelly

Ellie Donnelly

Justin Bickle has resigned as CEO of Glenveagh Properties with immediate effect.

Mr Bickle is leaving one of the country's biggest housebuilders as he is returning to live in the UK after spending much of the past decade working or living in Dublin, a statement from Glenveagh said.

He has also stepped down from the board of the group.

Mr Bickle is being replaced as CEO by Stephen Garvey, who is currently chief operating officer and co-founder of the business.

Mr Bickle and Mr Garvey will work closely with the board and the strong management team over the coming months to ensure a smooth transition, the company said.

“After almost a decade engaged in the Irish property market, first as a private equity investor and then as a CEO of a PLC, I am looking forward to returning full time to the UK and to pursuing my interests in private investing, education and the arts,” Mr Bickle said.

“It has been a pleasure to lead Glenveagh from its first days as a private company in August 2017, through our successful IPO, and during its first two years, as CEO. Together, Stephen, John and I have built the company into a leading Irish homebuilder and one with strong foundations,” he added.

Elsewhere, Glenveagh has appointed Pat McCann and Cara Ryan as non- executive directors.

Mr McCann the CEO of Dalata Hotels and brings almost 50 years’ experience in Irish business, real estate and consumer facing businesses to the Glenveagh board.

Meanwhile, Ms Ryan is a seasoned non-executive director, with proven expertise in the real estate and finance sectors.

Glenveagh also today released results for the first half of this year.

The group reported revenue of €45.5m in the six months to 30 June, up from €1.3m in the same period last year.

Losses after tax fell to €3.5m, from €7.2m in the corresponding period in 2018.

During the period the group sold 158 homes, and spent around €106m on site acquisition investment.

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