The chief executive of Britain’s biggest retirement housebuilder is to retire himself, it emerged yesterday as the company warned that its profits would be lower than expected this year.
McCarthy & Stone, which builds more than 2,000 retirement homes a year, said that economic uncertainty and a slowing housing market in the southeast meant that it would complete significantly fewer homes than expected in its full financial year.
The builder said that Clive Fenton, 60, its chief executive, would retire on August 31, the end of its financial year, after four years in the role, even though it had no successor in place.
