Sovereign and Network Homes announce new Executive and Group Boards ahead of merger
Sovereign and Network Homes have announced the prospective new Executive and Group Boards ahead of their planned merger, which is due to complete in October 2023.
Mark Washer, current CEO of Sovereign, has been confirmed as the future Group CEO of the new organisation, which will be known as SNG (Sovereign Network Group), and Helen Evans, current Chief Executive of Network Homes, has been confirmed as the deputy Group CEO.
The following Executive Board members have also been confirmed:
- Peter Benz, Chief Financial Officer
- Gerry Doherty, Executive Director operations, London and Herts
- David Gooch, Executive Director of Development
- Sally Hyndman, Chief People and Transformation Officer
- Kevin Ives, Chief Information Officer
- Jamie Ratcliff, Chief Communities and Sustainability Officer
- Nicole Sharp, Chief Customer Officer
- Tom Titherington, Chief Investment and Development Officer
The new Executive Board will be in place from 1 October, which is the target date for the completion of the merger and it will work to deliver the core vision for SNG: to provide current and future customers with more, better quality homes in thriving communities, to offer sector-leading services, and to use the merger as a catalyst for improvement.
Paul Massara, current Chair of Sovereign, has been confirmed as the Chair of the SNG Board with Network Homes’ current Chair Jon Gooding being confirmed as Vice Chair.
The following Group Board members have also been confirmed:
- Adeoye Adebayo, Vice Chair of the Major Projects Committee
- Barbara Brownlee
- Jennifer Dykes
- Stuart Laird, Chair of the Major Projects Committee
- Sean West, Chair of the Audit and Risk Committee
- Angela Williams, Chair of the Remuneration and Nominations Committee
Mark Washer, Sovereign CEO and future Group CEO of SNG, said: “I am delighted to confirm the new Executive and Group Boards for SNG ahead of our proposed merger in October. I’m confident that this talented and committed group of leaders will ensure this merger is a resounding success. Each will play an important role in helping to deliver our shared vision: to provide our current and future customers with more, better quality homes in thriving communities, to offer sector-leading services, and create a real catalyst for positive change.”
Helen Evans, Chief Executive of Network Homes and future Deputy Group CEO of SNG said: “The announcement of our new Executive and Group Board is a significant milestone in our proposed merger with Sovereign. We’ve always been clear that we want to take the best of both organisations and make it even better. These appointments will ensure we have the strong and capable leadership that’s needed to respond to the challenges and opportunities of integrating our businesses.”
The merger is subject to final approval by the Network Homes and Sovereign boards in September. At the point of merging, the new organisation will initially take the form of a group structure with Sovereign being the parent (renamed Sovereign Network Group) and Network Homes the subsidiary (renamed Sovereign Network Homes), with a view to full amalgamation happening in April 2025. This process will enable a planned and collaborative approach to integration and has allowed both organisations to commit that no one will have to leave as a direct result of the merger until at least April 2025.
SNG, will be one of the largest housing associations in the UK, with over 82,000 homes across the south of England and in London. The new housing association will have an annual income of over £830m in 2024-25 and plans are to invest £9.2bn over the next ten years, building 25,000 new homes – almost 4,000 more than in current plans. A new Community Foundation will also be established to invest £100m in communities over a ten-year period.