Shares in Watkin Jones PLC (AIM:WJG) jumped after the company said it appointed Alex Pease as its new chief executive officer.
Its share price increased by more than 6% on Wednesday morning to a peak of 48.17p before settling at 47p by 09.50 am, still 4.21% up on its closing price yesterday.
Pease, who has been acting as the interim CEO since 19 July 2023, will officially take the helm as of now.
He has worked at Watkin Jones since 2010 and became group investment director in 2013.
Since July, he has overseen the sale of three private rented sector assets and helped align the company’s cost base.
He is due to unveil a strategic plan for Watkin Jones alongside the annual results in January 2024.
“The PBSA [purpose-built student accommodation] and BTR [build-to-rent] sectors are amongst the most attractive asset classes in real estate and whilst we continue to face short term macro-economic headwinds, I have no doubt about our ability to navigate through these successfully and return the group to profitable growth," Pease said in a statement.