Irish home builder Cairn Homes has appointed Richard Ball as its chief financial officer (CFO), with Mr Ball due to take up his new role with the company in April.
Mr Ball is succeeding current chief financial officer Shane Doherty, who announced his intention to step down in October of last year, with an agreement to remain on the company board to support the transition to his successor.
The company said that Mr Doherty will not seek re-election at the upcoming annual general meeting (AGM) and will leave Cairn in the third quarter of this year, following a transition of responsibilities to the new chief financial officer.
On 10th April Mr Ball will join the company as CFO, and he will join the company board as an executive director at the AGM on 10th May.
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Mr Ball has more than 18 years of experience in the Irish property market, including previous roles as a partner with residential property business Urbeo Residential, chief investment officer at commercial real estate company Hibernia Reit plc, and a number of corporate finance roles at commercial property company Clancourt Group.
He said that he is “excited by the opportunity to join Ireland’s leading home builder” and looks forward to joining the Cairn team to “continue to deliver on their strategy of increasing the supply of high quality, sustainable family homes in Ireland”.
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John Reynolds, chairman of Cairn, said that the company is “delighted” to appoint Mr Ball.
“His deep experience in residential and other property sectors, in roles that cover finance, capital markets and sustainability, will be invaluable, given the Company’s momentum and trajectory, as we continue to focus on driving shareholder value,” he said.
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“We would also like to again recognise Shane Doherty’s very significant contribution to Cairn and to thank him for his commitment to stay in role as part of an orderly transition to his successor,” he added.
In a trading update last month, Cairn said it delivered its “strongest ever” financial and operational performance in 2023, generating revenue of around €665 million and operating profit of around €113.4 million.
The company is due to publish full year results for 2023 at the end of February.
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