Waqar Ahmed to step down as L&Q's Group Finance Director

Waqar Ahmed has announced that he will be stepping down as L&Q's Executive Group Director for Finance by the end of the current financial year.

However, after stepping down, Waqar will continue to work with L&Q on a project basis, as an advisor on initiatives exploring opportunities to facilitate increased investment in affordable housing.

Waqar joined L&Q as Finance Manager in 1997 and has made a major contribution to L&Q's growth to become one of the country's largest developers and providers of social and affordable housing. Over the past 27 years he has been at the forefront of social housing finance and has spearheaded what is widely regarded as one of the most ambitious financial strategies in the sector.

Speaking about the announcement, Waqar said: "It has been a great privilege to spend three decades working for an organisation that has always had social purpose at its heart, and puts residents and communities first.

"I have worked with incredible people over the years, and I know the current team has the talent, ambition and determination to drive L&Q forward and grapple the housing crisis head on. I shall be watching their continued progress with pride, and wish them every success as L&Q continues to use its financial strength to tackle the challenges and grasp the opportunities ahead."

L&Q Chief Executive, Fiona Fletcher-Smith said: "Waqar has always cared deeply about social housing, and over the past 27 years he has made an immeasurable contribution to the sector. Most people will know him as L&Q's financial figurehead, but he has always been happy to share his time and expertise with other like-minded organisations, as demonstrated by his board roles with Crisis and the National Housing Federation.

"He has been central to the growth of L&Q over the past three decades, and his legacy can be seen in both the organisation that we are today, and the formidable finance team he has led and nurtured which will now take forward his work. Everyone at L&Q wishes him the very best for his next chapter."

L&Q will begin the search for his successor immediately and are working with Elizabeth Campion at Michael Page on this.

For further information, please contact:

investors@lqgroup.org.uk

James Howell, Director of Partnerships                     020 8189 1596

www.lqgroup.org.uk

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