Tim Wates will succeed as chairman of the Wates Group at the privatetly-owned company’s annual general meeting in May 2023.
Tim Wates joined the business in 1993 after starting his career in banking with Cazenove & Co. He has been on the board from 2006 to 2008 and since 2011. He was appointed deputy chairman in October 2022. He is also chairman of the Wates Family Council the Family Shareholder forum.
He said: “I’m excited about taking over as chairman, with the Wates Group in a strong position to become an even more high-performing, entrepreneurial and sustainable organisation. It is an honour to be named the next chairman of our 125-year-old enterprise and continue our tradition of maintaining a long-term perspective and commitment to business as a force for good in society.”
Sir James Wates said: “I have enjoyed my ten years as chairman enormously, and the time is now right to pass the baton over to my cousin Tim. I look forward to continuing to serve on the Board and being actively involved in the business, including representing Wates in external forums.”