Carol Matthews set to retire as chief executive of Riverside

Riverside said that, under Ms Matthews’ “excellent leadership”, the group had gone from “strength to strength”, and she has steered the organisation through “some of the most challenging times” experienced by its customers and the sector.

In late 2021, Riverside took on One Housing to create a 75,000-home group.

Throughout her time at Riverside, Ms Matthews “always focused on Riverside’s central purpose as a charitable housing association”, the group said.

The housing association will shortly start a recruitment process for Ms Matthews’ successor, which will be overseen by Terrie Alafat, its chair.

Ms Alafat said: “Carol has modernised the organisation – introducing new systems and ways of working – whilst ensuring we retain a strong focus on our customers, giving them an effective voice, including at the ‘top table’.

“We are now one of the country’s leading developers of much-needed affordable housing and one of its largest providers of homelessness services and supported housing. The ultimate measure of Carol’s success is that she will leave Riverside a better, stronger organisation than the one she joined.”

In June this year, Riverside hired Jehan Weerasinghe to the new role of managing director at One Housing, its London-based subsidiary.

Riverside is currently graded G2/V2 by the regulator.

According to its latest published results, the housing association grew its pre-tax surplus from £49.1m in 2020-21 to £761.7m in 2021-22.