The former boss of housebuilder Persimmon, who landed one of the biggest bonuses in British corporate history, has set up a new venture with his wife.
Jeff Fairburn, who was ousted from the housebuilder after protests at his mammoth £82mln payout in 2018, has set up an investment company with his wife, Jayne, according to the Guardian.
Fairburn, who was dubbed "Moneybags", has registered Third Stone Investments, a private company located in Durham, north-east England, last week. He and his wife, whose occupation is listed as “home keeper”, are the only directors.
The filing at Companies House does not detail the company’s specific activities but it is registered as a “credit granting” business under a company code usually ascribed to industrial finance firms or banks outside the mainstream UK banking system.
Fairburn has kept a relatively low profile since the row over his bonus, which he received as the taxpayer-funded help-to-buy scheme buoyed Persimmon’s profits and which was labelled “excessive and unearned”.
The mammoth payout had been reduced from £110mln after an investor revolt and Fairburn’s reputation was further hit after he over the bonus during an interview.
Fairburn made a comeback in January 2020 when he was named chief executive of Yorkshire housebuilder Berkeley DeVeer in which he bought a 50% stake.
Then, in 2021, he teamed up with the powerful activist investor Elliott to acquire the northern builder Avant Homes, becoming chair in the process.