The board of MJ Gleeson has agreed to vest Jolyon Harrison a total of 633,730 ordinary shares of 2 pence each, in line with the company’s incentive plan.
“The settlement agreement with the company is full and final,” the board said. Gleeson's share price is currently around £8.
72-year-old Jolyon Harrison stepped down as Gleeson’s CEO on 10th June 2019 after a disagreement over pay and the timing of his surely impending retirement.
The board said at the time: “Following extensive discussions with Mr Harrison regarding his remuneration and succession planning, the board concluded that it was not possible to find a mutually acceptable basis for Mr Harrison to continue as chief executive officer.”
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On Mr Harrison’s departure, former Keepmoat Homes chief executive James Thomson was brought in on an interim basis. He has now been given the job permanently. His appointment follows a search process by external head-hunters, which included internal and external candidates.
Chairman Dermot Gleeson said: "The board is delighted to confirm James as CEO. During an extensive process he stood out as the clear choice to lead the business. James has already made a significant impact at Gleeson and we look forward to further progress under his leadership."
James Thomson himself said: "I am delighted to have been confirmed as CEO. I have long admired Gleeson and its focus on building much needed high-quality homes for first-time buyers on low incomes. My experience, since joining the business in June, has re-affirmed my belief that Gleeson has an exciting future ahead and I look forward to working with my very talented and dedicated colleagues to deliver it."
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