London Daily

Focus on the big picture.
Saturday, Jul 12, 2025

Housebuilding giant Barratt kicks off search for next chairman

Housebuilding giant Barratt kicks off search for next chairman

The search firm Russell Reynolds is overseeing the hunt for a replacement for John Allan, the City veteran who also chairs Tesco.
The City veteran John Allan is preparing to step down as chairman of Barratt Developments, Britain's second-biggest housebuilder by market value.

Sky News has learnt that Barratt has instructed headhunters at Russell Reynolds Associates to identify a successor to Mr Allan, who also chairs Tesco.

The process, which is unlikely to be concluded until next year, comes at a sensitive time for the UK housebuilding sector, with many of its biggest companies critical of a £3bn building safety levy forced through by ministers two months ago.

David Thomas, Barratt's chief executive, has been particularly outspoken, telling Michael Gove, the housing secretary, that the additional tax burden was unfair and disproportionate.

"This does not reflect well on the government's regard for UK business, creates an uncertain fiscal environment which leaves no incentive for companies to base themselves in the UK or be listed on the FTSE," Mr Thomas wrote last month.

"It will harm inward business investment in the UK."

Barratt has set aside hundreds of millions of pounds to pay its share of the new levy, which allied with other factors has recently exerted downward pressure on the company's shares.

During the last 12 months, its stock has fallen by more than a third, although with a market capitalisation of £5.1bn, it remains bigger than Taylor Wimpey, the third-largest company by market value.

Persimmon, which has seen a similar decline over the last year, is capitalised at nearly £7bn.

Mr Allan has served as Barratt's chairman since November 2014, having joined its board three months earlier, meaning he still has more than a year before he is 'timed out' under corporate governance guidelines.

One source said the company's annual meeting next year appeared to be a logical time for Mr Allan to hand over the reins.

Mr Allan has held a string of major corporate roles, including the presidency of the CBI, the UK's biggest business lobbying group, and chairmanships at Dixons Retail and Worldpay.

He has also served on the boards of National Grid, Royal Mail and 3i Group.

Recently, he became a notable advocate from the upper echelons of British business in calling for a windfall tax on energy company profits as ministers grapple with the cost of living crisis.

"There's an overwhelming case for a windfall tax on profits for those energy producers, fed back to those most in need of help with energy prices," Mr Allan told the BBC prior to the government's announcement of a £5bn levy last month.

This weekend, it was unclear whether any of Barratt's existing board members were likely to be in contention to succeed Mr Allan.

Its non-executive directors include Dame Sharon White, the John Lewis Partnership chair, and Katie Bickerstaffe, the new co-chief executive of Marks & Spencer.

The search for Mr Allan's successor is being led by Jock Lennox, Barratt's senior independent director.

One of the new Barratt chairman's most pressing tasks is likely to be identifying a medium-term replacement for Mr Thomas, who has himself been in the role for almost seven years.

Barratt declined to comment.
Newsletter

Related Articles

0:00
0:00
Close
A 92-year-old woman, who felt she doesn't belong in a nursing home, escaped the death-camp by climbing a gate nearly 8 ft tall
French Journalist Acquitted in Controversial Case Involving Brigitte Macron
Elon Musk’s xAI Targets $200 Billion Valuation in New Fundraising Round
Kraft Heinz Considers Splitting Off Grocery Division Amid Strategic Review
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
EU Proposes New Tax on Large Companies to Boost Budget
Trump Imposes 35% Tariffs on Canadian Imports Amid Trade Tensions
Junior Doctors in the UK Prepare for Five-Day Strike Over Pay Disputes
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
Bitcoin Reaches New Milestone of $116,000
Biden’s Doctor Pleads the Fifth to Avoid Self-Incrimination on President’s Medical Fitness
Grok Chatbot Faces International Backlash for Antisemitic Content
Severe Heatwave Claims 2,300 Lives Across Europe
NVIDIA Achieves Historic Milestone as First Company Valued at $4 Trillion
Declining Beer Consumption Signals Cultural Shift in Germany
Linda Yaccarino Steps Down as CEO of X After Two Years
US Imposes New Tariffs on Brazilian Exports Amid Political Tensions
Azerbaijan and Armenia are on the brink of a historic peace deal.
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Weinstein Victim’s Lawyer Says MeToo Movement Still Strong
U.S. Enacts Sweeping Tax and Spending Legislation Amid Trade Policy Shifts
Football Mourns as Diogo Jota and Brother André Silva Laid to Rest in Portugal
Labour Expected to Withdraw Support for Special Needs Funding Model
Leaked Audio Reveals Tory Aide Defending DEI Record
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
London Stock Exchange Faces Historic Low in Initial Public Offerings
A new online platform has emerged in the United Kingdom, specifically targeting Muslim men seeking virgin brides
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
×