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Peabody promotes finance director to interim CFO role
Peabody has promoted a former Berkeley executive to be its interim finance boss as it continues its search for a permanent replacement.
The 66,000-home landlord is installing Eamonn Hughes, its current finance director, development and regeneration, as interim chief financial officer from the start of next month.
Mr Hughes joined Peabody in November 2018 after nearly four years with house builder Berkeley and seven-and-half years with KPMG prior to that.
He will fill the role left vacant by Susan Hickey, whose departure was announced in August. Ms Hickey will leave the organisation on the 31 January, with Mr Hughes taking on the role from 3 February.
At the time, Brendan Sarsfield, chief executive of Peabody, said Ms Hickey decided it was “time for a change” after 10 years at the G15 landlord.
A Peabody spokesperson told Inside Housing it expects to announce a permanent replacement “in the coming months”.
It is understood Ms Hickey is moving on to work in real estate finance.
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Mr Sarsfield said: “I’m grateful to Susan for all that she achieved for Peabody over the years.”
On Mr Hughes’ appointment, he added: “Eamonn already successfully leads one of our largest finance portfolios in the organisation.
“He is supported by a high-performing team, and will ensure that we continue to have robust financial and risk management while we recruit a permanent chief finance officer.”
In its last full year, Peabody reported a 15% drop in group surplus as turnover fell to £565m due to declining market sales.
However in its most recent half year, the landlord revealed an uptick in surplus after the acquisition of 9,500-home Kent-based association Town & Country Housing boosted revenue.
Earlier this month, Peabody launched a search for a new development partner to build 700 new homes on a hotly disputed site in south-east London.
