Housebuilder shares react to executive departures


Housebuilder Redrow’s share price fell 2.83% on Wednesday to 549.00p after founder Steve Morgan announced his retirement for a second time with chief executive John Tutte set to take over the role of executive chairman from March.

By contrast Persimmon’s shares rose 0.55% on Wednesday to 2,369p after the house builder announced chief executive Jeff Fairburn was leaving stepping down at the request of the company amid the ongoing furore surrounding his pay.

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