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Places for People chief executive announces retirement
The chief executive of one of the country’s largest housing associations has announced his retirement after 24 years in post.
David Cowans will step down from his role at Places for People (PfP) at the end of March 2022, when he will be 64.
PfP currently owns around 69,000 homes across England and Scotland and manages more than 209,000 between the group’s 20 companies.
It completed 2,680 new homes in 2019/20, more than any other housing association in the UK, and made a £95.5m pre-tax surplus off a £866.7m turnover.
Mr Cowans has been the highest-paid person in the social housing sector for several years, with his total salary including bonus topping £574,000 in 2017/18 and 2018/19.
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He was ranked second highest-paid in Inside Housing’s housing association chief executive salary survey for 2019/20 because PfP was not able to provide figures for his bonus.
Commenting on his decision, Mr Cowans said: “It has been, and remains, a privilege to have worked with many committed and hard-working people to develop the vision and the culture of the group as it is today. I am proud to be part of Places for People.”
The group has grown substantially under Mr Cowans’ leadership and diversified into financial services and leisure centres.
In May 2019 it penned a deal to invest £100m in modular housebuilding, in what was the biggest spending commitment of its kind to date.
Mr Cowans will continue to lead the group and support the transition process over the next year, PfP said.
Richard Gregory, chair of Places for People, added: “The group will owe David a huge debt when David retires, as he will leave behind a legacy creating one of the country’s leading affordable-led placemakers.
“The strength in depth of the senior leadership team which David has assembled and handing over a business that is in very good shape, are his final legacy and a great way for a CEO to bow out.
“During the next 12 months, I am looking forward to working with David on business as usual, embedding our new three-year business plan, the succession planning process and delivering a smooth transition until he retires.”
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