Geeta Nanda to step down as MTVH chief executive

She said that deciding to leave MTVH now is the “right time for several reasons”, including leaving to spend more time caring for her mother, who turns 91 this year.

She added that now is the right time to leave with MTVH in a good place. Ms Nanda pointed to the provider’s top governance rating, after retaining its G1/V2 grades in December, and improved credit rating outlook following S&P upgrading the landlord’s outlook from negative to stable last month.

Althea Efunshile, chair of MTVH, is leading the search and selection process for the new chief executive, supported by other board members. She has also appointed recruitment firm Odgers Berndtson to assist.

Ms Nanda will remain in post as chief executive to deliver on MTVH’s strategy and plans and assist in a smooth handover to her successor.

Ms Nanda said: “When you have the privilege to lead an incredible organisation like MTVH for 16 years it can be hard to find the right moment to step away, but I know this is the right time for several reasons.

“First, we have bounced back from the pandemic, with an improved credit outlook, the ability to deliver more opportunities for our residents, and the strongest governance rating. Second, there is a real continuity, strength and depth in our chair, board and senior team, colleagues and involved customers who will carry on MTVH’s mission to give everyone a decent home and the chance to live well.”

Ms Nanda added: “Finally, this is also the right time for me personally as my mum turns 91 this year and I want to spend more time caring for her.

“I entered the affordable housing sector as a housing officer 35 years ago to give more people the security of a decent home and the opportunities that come with that.

“I’m grateful that MTVH has given me the opportunity to fulfil that purpose and proud that we have enhanced resident experience, created great places to live, and met the challenges faced by communities by supporting people to live well. With our great team here we have also completed, or progressed 15,000, new homes in the past 16 years.”

Ms Efunshile said: “The board and I would like to thank Geeta for her huge contribution both to MTVH and the housing sector in the UK.

“Geeta leaves MTVH in great shape as one of the most innovative and resilient housing associations in the country with high Governance and Financial Viability Standard ratings from the regulator, and with a recently improved credit outlook from Standard & Poor’s (S&P).

“Our strong position and reputation have seen MTVH become a key partner in some of the largest long-term regeneration and development schemes that are tackling the UK’s housing crisis. For example, Clapham Park in London that will deliver 2,400 new homes over the next 12 years.

“We are now focused on the appointment of a new chief executive who will continue this track record of success while maintaining MTVH’s values as a social purpose organisation which was established to house Windrush migrants and exists to ‘serve people better every day’.”

Earlier in January, MTVH warned that its surplus for the current financial year will be lower than expected because of £105m in one-off provisions and impairments covering fire and general building safety works.

According to its results for the year ending 31 March 2023, the landlord posted a surplus before tax of £33.5m, a drop from £40.3m in the previous year.