Housebuilder Vistry Group has appointed Helen Miles, currently CFO of Severn Trent Water, as its next finance chief.

Miles became CFO of Severn Trent, a FTSE 100 eater company in July 2023, having joined the business in 2014. She previously held finance leadership roles at HomeServe and Openreach, part of BT Group, and is a non-executive director of Breedon Group.

She is expected to join the board in 2027.

Vistry said the appointment followed a comprehensive internal and external selection process as it seeks to rebuild investor confidence and deliver its plans of executing its partnership-led housing strategy.

In September, FTSE 250 Vistry reported a loss of £661.3m in the six months to 30 June, and announced it was looking to transition to a “smaller, more focused business” over the medium term.

Chair Rob Woodward said: “Helen is a high calibre finance and business executive who I am confident will work with the Board, Adam and the rest of the leadership team to maximise the strengths and opportunities of the Group's mixed tenure partnership model.”

Miles added: "I am excited to be joining Vistry as it enters the next stage of its development. Vistry has a clear focus on strong operational performance and delivering high quality homes across all tenures. I look forward to working with colleagues across the business to support the strategic evolution of the Group to drive long term value for partners, customers, shareholders and all other stakeholders."

Robert Allen, former CFO of The Crown Estate, has been appointed interim CFO and joins the board with immediate effect. He will remain in the role until Miles arrives in 2027. Allen previously held CFO positions at Intu Properties and Crest Nicholson.

Vistry, based in Kent, disclosed that Intu Properties, Intu Shopping Centres and Liberty International Group Treasury entered administration in June 2020, while Intu Payments subsequently entered creditors' voluntary liquidation in October 2021.

Shares of Vistry were up 3.7% at 264.6p Tuesday morning, while Severn Trent was down 0.9% at £32.2p.

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