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Northacre CEO resigns over 'fundamental disagreement'

Residential developer Northacre has parted company with chief executive Jayne McGivern after a “fundamental disagreement” over strategy.

The group confirmed her resignation by mutual agreement in a stock market update today.

It said she would “continue to work in association with Northacre on some specific new prime residential projects”.

“This follows a fundamental disagreement with with the executive chairman over the company’s fiscal strategy.”

Jayne McGivern, outgoing Northacre chief executive

The company also confirmed Klas Nilsson would replace her as chief executive and chairman.

Ms McGivern responded to the statement this afternoon, confirming her resignation.

Her statement said: “This follows a fundamental disagreement with the executive chairman over the company’s fiscal strategy and the plans for moving forward.” 

Ms McGivern has worked on major projects including the acquisition and redevelopment of the Millennium Dome into the O2.

She also served as managing director of Redrow Commercial.

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