City veteran John Allan prepares to step down as Barratt chair
Titan housebuilder Barratt is planning to begin a search for a new chairman, with City grandee John Allan to step down.
According to reports by Sky News, Allan, who also chairs the country’s largest supermarket, Tesco, is readying to hand over the reins of the construction giant.
Barratt has reportedly asked headhunters at Russell Reynolds Associates to find a successor to Allan.
The recruitment process is unlikely to be completed until next year, Sky News reported.
However, a source told the news organisation that the company’s annual meeting next year appeared to be a logical timeframe.
It comes as some housebuilders in the UK have expressed disdain for a £3bn building safety levy, in addition to other contributions to repair unsafe buildings.
In recent weeks, Allan hit the headlines by calling for a windfall tax. He said there was an “overwhelming case for a windfall tax on profits from those energy producers, fed back to those most in need of help with energy prices.”