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McCarthy & Stone shares jump 8% on chief executive appointment

2018-09-26T07:25:00

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Shares in McCarthy & Stone jumped 8.08% on Tuesday to 131.1p after it announced the appointment of its chief operating officer John Tonkiss as chief executive, with a mission to cut costs at the retirement homes group.

Tonkiss is charged with implementing the group’s new strategy, moving away from growth to a focus on return on capital employed (ROCE).

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