Notting Hill Genesis’ deputy chief executive exits

“[Mr Hughes] remained in the role until the end of September to help with the transition to a new homes directorate combining development and sales, assets and sustainability under the leadership of our chief homes officer, Matthew Cornwall-Jones,” the spokesperson added. 

Like many landlords, NHG is scaling back on its development plans to spend more on existing stock. 

It also emerged last month that the G15 landlord was recruiting its first chief governance and risk officer as part of what Patrick Franco, chief executive of NHG, called an “executive refresh”.

On Mr Hughes’ departure, Mr Franco said: “John’s legacy over his time with Notting Hill Genesis and its predecessors cannot be overstated. He’s led the delivery of around 18,000 new homes, helping many thousands of Londoners to have a place they can call home.

“His leadership in winning crucial regeneration bids has resulted in significant investment for less affluent communities, improving opportunities for local people and creating stronger neighbourhoods.”

NHG was formed in 2018 through the merger of Notting Hill and Genesis. Mr Hughes had worked for both organisations, since 2002, according to his LinkedIn profile. 

NHG is facing financial challenges, having reported an unaudited annual deficit of £82m due to building safety costs and impairments. 

However, last week the landlord said it was delaying the publication of its audited annual results as it was reviewing the exceptional items. The delay led to NHG suspending trading for five of its bonds.

NHG has a relatively new finance boss – Mark Smith joined in April. 

Last month, ratings agency S&P downgraded its outlook on NHG to ‘negative’ as it warned of “risks” over the landlord’s “ambitious” plans to reduce debt.