Bouleversee wrote:From The Times yesterday: "Taylor-Wimpey boss to hang up his trowel. Pete Redfern, the log-serving boss of Taylor Wimpey, has announced pans to stand down in the new year, days after reports surfaced that an activist investor was targeting the housebuilder." Apparently Elliott Management is active again and has built a small stake. Redfern says this played no role in his decision making and he had been contemplating his future for a while. However, one senior industry insider said that the timing "looks really odd. I think he has played into Elliott's hands". No successor has yet been lined up so I have to say I also thought, especially he has no other job lined up himself and just wants a break with his family, he would have delayed his departure till after the dust had settled on that one. However, he has obviously made more than enough dosh to retire in luxury and prefers not to have the hassle and responsibility. I expect a takeover would add significantly to his retirement pot. I wonder who would want to take on the leadership under the threat of takeover.
Edit: Having just read Ian's post re Elliott, one can't help thinking that Redfern has taken the huff and decided to quit because of the Elliot comments.
You're welcome Lorna. I must admit that I'm surprised my post re Elliott didn't glean more comment hereabouts. I don't hold TW. by the way, nor am I intending to buy the stock either.
Ian.