Stephen Stone, Chief Executive of Crest Nicholson, has been crowned ‘Chief Executive of the Year’ at this year’s Building Awards; the annual event celebrating the best companies, projects and personalities from across the full spectrum of the built environment.
The Chief Executive of the Year category is open for nomination only, and for Stephen Stone the added endorsement from both his peers and other leading industry heavyweights cements his reputation as a force to be reckoned with across the financial and property spheres.
The award marks the conclusion of more than three years of strategic repositioning, rebuilding Crest Nicholson as a highly profitable entity in the aftermath of the financial crisis, and finally resulting in the successful listing of the company on the London Stock Exchange in February this year.
Having come to market with a top of the range valuation of £550 million and a price of £2.20 per share at IPO, the deal was the first in a series of high profile listings during the first three months of 2013 and signalled a significant turning point for the wider market. The company now remains on an upward trajectory with a 13.28% increase in share price in the last month alone, closing at £3.07 on 18 April 2013.
Its operating margin of 18 per cent is one of the best among the housebuilders, and it is looking to increase completions from 1,882 in 2012 to 2,500 within 3-4 years.
Commenting on the win, Stephen said: “Crest Nicholson has undergone a phenomenal period of growth, and we are now firmly positioned to continue building on the strength of our results and underlying business performance. With this year marking our milestone 50th anniversary, it remains an honour to be at the helm of such a thriving business. However, this achievement is as much down to me as it is down to the commitment of every single one of our employees. It is therefore a privilege to accept an accolade in recognition of everything that we have achieved together, not only in terms of where we are today, but also in positioning the company for long-term sustainable growth well into the future.”
Stephen has been at Crest Nicholson for more than 18 years. He was appointed to the Board in 1999, before being named Chief Operating Officer in 2003. On 1st November 2005 he became Chief Executive. He is a chartered architect with over 30 years of experience in the construction and house building industry.