The new Operational Board for the Construction business will be headed up by Chris Gallagher, supported by Gareth Blower and Paul McGowan, who have both been promoted to Operational Directors.
The Operational Board will provide oversight and coordination of the senior team across all construction activities to support the projected growth within the business over the next three years.
In addition, the move to an employee ownership model further supports Vermont Group’s strategic plans to expand operations across Liverpool and Manchester, focusing on the private rental sector.
Reflecting complete faith in its team and a belief in rewarding quality, productivity and innovation, the move has seen Vermont’s team become shareholders in the business.
Chris Gallagher, who joined Vermont in April 2015, will continue his role as managing director of the Construction business. Mark Connor will continue to head up Vermont Group’s executive board, together with Finance Director Mike Huston and Construction Director Mark Colton.
Mark Connor, CEO of Vermont, said: “These changes represent a significant milestone for the Vermont business and will provide a strong platform for Chris Gallagher and the new Operational Board to grow the business, enabling us to deliver the very exciting pipeline with our clients across the North West.
“The ownership model has been in place for some time now and we believe will have an empowering effect on the team and will help them deliver a successful, profitable, and sustainable future for both the business and themselves. It will also ensure that the team are rewarded for their efforts in delivering the current pipeline in a very challenging market. We have a very clear vision for the future and Chris and the Operational Board are in good shape to support the team in delivering our core business objectives – it’s a very exciting time for the business!”
Chris Gallagher, Managing Director of Vermont, added: “These changes mark logical steps in Vermont’s journey and we strongly believe this new business model will only help us on our current trajectory of growth. There’s a real buzz within the business about implementing our plans and we’re confident we have the right team, partners, stakeholders, and strategy in place to successfully deliver results for our existing and prospective clients in Liverpool and Manchester.”
Over the past 20 years, Vermont has delivered over 2.3m square feet of residential, student, retail and commercial accommodation with a GDV in excess of £650m.
Vermont’s recent projects include Liverpool Waters and Michigan Avenue for X1 and Starlight Investments, which continue to progress at pace. The team has also commenced works on Media City Tower 4 with X1, and Mansion House with Urban Splash.
The Embassy Village Project alongside Peel and Capital & Centric is also well underway which offers a pioneering approach to tackling homelessness and deprivation by providing homeless people with their own front door in a purpose-built village with 40 houses.