LONDON - Berkeley Group (OTC:BKGFY) Holdings plc (LSE:BKG) announced Friday that Chairman Michael Dobson will step down at the company’s Annual General Meeting on September 5, 2025, after three years in the role.

The homebuilder plans to appoint current CEO Rob Perrins as Executive Chair following Dobson’s departure. Perrins has served as CEO since 2009. Chief Financial Officer Richard Stearn, who has been with the company since 2015, will be promoted to CEO.

The board changes come as Berkeley implements its recently developed 10-year strategy, "Berkeley 2035." The company stated the leadership transition aims to maintain continuity during a period of "heightened geo-political and macro-economic volatility" in the housing sector.

Non-executive director William Jackson will not seek re-election at the September AGM. The company announced Richard Dakin, former head of  CBRE  (NYSE:CBRE)’s European investment banking and debt and structured finance business, will join as a non-executive director.

Berkeley also revealed it is "well advanced" in appointing another non-executive director with industry and public company experience, expected to be announced early next year.

Senior Independent Director Rachel Downey will consult with major shareholders regarding the proposed leadership changes, as required by the UK Governance Code. The company indicated it has strong internal candidates for the CFO position.

The information in this article is based on a press release statement from Berkeley Group.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.