Taywood promotes Mac Daid

by John Leitch



Denis Mac Daid, who has headed up the reshaping of Taylor Woodrow's construction business over the past two years, has been promoted to the group's main board. He also becomes chief executive of Taywood's housing division, which trades as Bryant Homes.

A spokeswoman said: "Housing accounts for 80% of group turnover and we wanted to put our strongest management in place. Denis did a brilliant job in construction, which he had headed up since 1999, seeing it through major change."

The reshaping involved a downsizing of construction, which resulting in a turnover of £390m last year, well down on the previous year's figure of £530m. Restructuring costs took their toll, reducing the operating profit from the business to £1m. The operating margin in the previous year had been 0.5%.

Andrew Wyllie, 38, will succeed Mac Daid as managing director of the construction business. Currently a director of TW Construction, Wyllie has been with the group for 17 years and has implemented many of the changes made in the construction division to de-risk its activities and develop a business with the potential to be "consistently profitable". Wyllie will report to Keith Egerton, group chief executive.

Taywood made an agreed £550m bid for housebuilder Bryant in January this year, a move that spelt the end to earlier merger plans between Bryant and fellow housebuilder Beazer.

The combination created a company that will build 6,000 homes a year in the UK and rank five in the housebuilders' league table.

The combined housing business will have an annual turnover of £850m, trading as Bryant.

The merger saw Paul Phipps, 48, installed as managing director of the new combined housing business. He was previously director of Taywood's housing wing. But after just five months in the post, Phipps has found himself replaced by Mac Daid.

The latest moves are the result of a reshaping of the Taywood group. The commercial property, city-centre, mixed-use development and upmarket UK residential businesses along with the group's housing and land development operations in Spain and Australia will come together under Tony Wilby, 48, currently managing director of Taywood's property division.

Dr Robert Hawley, group chairman, said: "Taylor Woodrow is a changed and re-energised business. This team will drive us towards our goal of becoming the UK's leading urban developer."

Hawley added: "Bryant has proved an excellent acquisition. The first phase of integration has been very successful and the £15m of synergies outlined at the time of the acquisition are secure."