Finance boss of 26,000-home landlord to exit after three years

The landlord, which has a G1/V2 rating with the Regulator of Social Housing, previously had an interim finance boss for six months before Ms Makinson joined.

Ruth Cooke, chief executive of GSA, said: “I would like to take this opportunity, on behalf of all at GSA, to wish Jo the very best in her new role at fellow housing association Abri.

“Jo has made a massive contribution to GSA in the time she’s been with us as shown in our financial statements for 2023-24.”

Like many housing associations, GSA has faced a difficult time financially amid the tough conditions.

Last November, its Fitch credit rating was downgraded, while in February this year Moody’s downgraded its rating on GSA to Baa1 due to its “very tight covenant headroom”.

However, earlier this month the group revealed that it had posted its first surplus since it was formed, helped by an exit from loss-making care and support services.

Ms Makinson was appointed by GSA following a tough period for the landlord, which was formed through a merger in April 2021.

The group was found to have breached the regulator’s Home Standard in October 2021 after it was discovered that hundreds of its homes did not have a current fire risk assessment and more than 10,000 had never had an electrical inspection.

Following the breach, Elisabeth Buggins, chair of GSA, stepped down after less than a year in the role.