M&G : Greencore Construction appoints Jon Di-Stefano as Chief Executive to drive ambitious expansion

London, 30 June 2022
- Greencore Construction ("Greencore") today announced that Jon Di-Stefano has been appointed as Chief Executive Officer of the company. Jon will be key to delivering Greencore's ambitious plans to construct more Climate Positive Homes, following the asset manager M&G acquiring a majority stake in the company.

Founded in 2013, Greencore's aim is to build high performance, low carbon buildings using natural materials - predominantly hemp, lime, natural fibre insulation and timber, combined with the use of innovative energy strategies. Greencore's approach is a unique solution within the housebuilding sector, which needs to make major changes to its methods in order to meet the UK's net zero targets and help people reduce fuel bills. Greencore has the potential to transform the construction sector and lead the way with its sustainable approach.

With over 20 years' experience in the property sector, Jon joins Greencore in October 2022 from Telford Homes where he served as CEO for more than a decade and previously as Finance Director between 2002 and 2011. During his time with Telford Homes, Jon oversaw a prolonged period of business growth and a substantial increase in shareholder value.

Earlier this year, M&G's Catalyst team, which is investing up to £5 billion into innovative privately-owned businesses working to create a more sustainable world, acquired a majority stake in Greencore. At the time, M&G's real estate investment team announced its intention to invest up to £500 million, on behalf of its residential property strategies, into new sustainable private and social affordable rental housing developments in partnership with Greencore.

Co-founder Ian Pritchett will move into a newly created role as Growth and Innovation Director, with a focus on business development, innovation and low carbon technology.

Ian Pritchett, said: "Appointing an experienced and tested leadership team, coupled with long-term institutional investment, is essential for Greencore to reach its potential. Jon's appointment will enable Greencore to enter a new growth phase, achieving the scale required to have a transformational impact on sustainable housebuilding standards in this country. The built environment is one of the biggest emitters of carbon, both in construction and occupation, but we've shown it doesn't have to be this way."

Zachary Webb, Director, M&G's Catalyst team, says: "Greencore continues to expand its dynamic team as it looks to scale to become a nationwide sustainable housebuilder. The calibre of this appointment is testament to the company's long-term ambition and potential to transform the construction sector with its sustainable approach."

Jon Di-Stefano, said: "Greencore is breaking new ground in delivering low carbon, low energy housing, and the current energy crisis only serves to emphasise the need to build homes that use less energy and are fit for the 21st Century. I have been incredibly impressed by what Greencore have achieved to date and look forward to joining the team to lead it through its next phase."