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Boss of major for-profit provider to step down later this year
The chief executive of Sage Homes has announced he will step aside after five years at the helm.
Mark Sater will continue to work with the board and employees in the chief executive role while the search progresses and a successor is appointed to ensure a smooth handover.
Mr Sater joined the for-profit registered provider five years ago. Under his leadership, it has become largest provider of affordable new homes in England for four consecutive years.
He presided over the set-up of Sage’s housing management service, which now manages all 18,500 occupied homes and has a further 4,000 in the pipeline.
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Mr Sater has been praised for his role in overseeing the sale of more than 3,000 shared ownership homes to the UK’s largest pension fund, bringing much-needed new capital into the sector, and creating Sparrow Shared Ownership.
Sage registered three new for-profit providers with the English regulator in July 2024: Sage Green Homes, Sage Places and Sage Shared Ownership.
In addition, Mr Sater led the organisation through its first governance and financial viability inspection from the regulator, achieving a G1/V2 rating.
He said: “After a fantastic and extremely happy and fulfilling five years helping Sage Homes become England’s top provider of newly built affordable homes, I have decided to step down as CEO sometime later this year.
“I am grateful for all the support the staff, board and investors have given me over this time and look forward to continuing to support them in my current role as we make this important transition.”
Mr Sater believes now is a “natural moment” for a new chief executive to take over the reins after “proving the value and impact of private investment in affordable housing”.
Alison Thain, chair of Sage, said “On behalf of the board, I would like to thank Mark for the contribution he has made in building this business.
“In a relatively short space of time, Sage Homes has become an excellent example of the positive impact private investment can have on addressing the undersupply of high-quality, affordable housing in the UK. Mark has been central to this success and he should be proud of the lasting legacy he leaves.”
The board and investors will shortly commence a search for someone to take over the chief executive role at the Blackstone and Regis-backed landlord.
Gemma Kataky, a board member at Sage and managing director at Blackstone, said: “I would like to thank Mark for his outstanding leadership of Sage Homes. He joined an early-stage Sage during COVID lockdown and has led the group to become the largest provider of newly built affordable homes in England for the fourth consecutive year.
“He has built an exceptional business and team, who will continue to deliver and manage high-quality new homes to our customers. We look forward to continuing to work with Mark this year as we find a successor.”
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