November 7, 2018 / 7:12 AM / 11 days ago

UK builder Persimmon's CEO to step down after remuneration backlash

Nov 7 (Reuters) - British housebuilder Persimmon Plc said Chief Executive Jeff Fairburn would step down and be replaced by Group Managing Director David Jenkinson on an interim basis.

“...the board believes that the distraction around his (Fairburn’s) remuneration from the 2012 LTIP scheme continues to have a negative impact on the reputation of the business and consequently on Jeff’s ability to continue in his role,” the company said on Wednesday. (Reporting by Shashwat Awasthi in Bengaluru, editing by Louise Heavens)

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