LSL Property Services has announced the appointment of David Stewart as group chief executive officer, with immediate effect.
Stewart joined the board of LSL as a non-executive in May 2015 and has chaired the audit and risk committee since April 2016. He held the position of CEO of Coventry Building Society between July 2006 and March 2014.
Prior to that, he has held a number of board positions in financial services businesses.
Stewart has ceased to serve as a member of LSL’s board committees and will be replaced by Bill Shannon as chair of the audit and risk committee.
Shannon is LSL’s deputy chair, senior independent director and chair of the remuneration and nominations committees. As a result of the changes, he will cease his role as chair of the nominations committee and be replaced by Simon Embley, LSL’s non-executive chairman.
Simon Embley, non-executive chair of LSL, said: “I am delighted that David Stewart has agreed to take on the role of Group CEO. Since joining the board in 2015 he has made a very significant contribution to our strategy as well as to our governance framework as chair of the audit and risk committee.
“David is an experienced chief executive, with a track record of success both in growing businesses and in managing during periods of uncertainty. His detailed knowledge of financial services will be invaluable as we seek to continue to build our capability in this sector, whilst maximising the potential of our estate agency and surveying operations.”
He added: “Having worked closely with him, I am confident he is the right person to take the group forward. I also want to place on record the board’s thanks and my personal appreciation for the part Ian Crabb has played in the group’s development since he joined us in 2013, Ian has always acted with the highest standards of integrity and professionalism, and I wish him every future success.”
Stewart said: “I’m delighted to lead LSL. We have a significant opportunity to grow our financial services business and to capitalise on leading positions in estate agencies and surveying. I look forward to working with an outstanding management team to realise the group’s potential and deal effectively with the impact of the Covid-19 virus.”