The Wates board has announced that Tim Wates will take over as chairman in May 2023 as his cousin, Sir James Wates CBE steps down
Sir James Wates CBE has announced that Tim Wates will succeed him as chairman of the Wates Group, the privately held, family-owned built environment specialist and developer. The change will take effect at the company’s AGM in May 2023.
Tim Wates has been involved with the business for over 30 years
Tim joined Wates in 1993 and has served on the Board from 2006 to 2008 and since 2011. He was appointed deputy chairman in October 2022. Tim is chairman of the Wates Family Council, the Family Shareholder forum and is a member of the Remuneration Committee and the Nominations Committee. He is also a trustee of various Wates Family charities and has served as the lead family director on housing issues.
Prior to joining the Wates Group, Tim started his career at Cazenove & Co. Outside of the company, he serves on the Advisory Board of the Cambridge Judge Business School and is a deputy lieutenant of Surrey.
He is a non-executive director of Tampopo Limited and Pedder Property. For six years he was chairman of the Coast to Capital Local Enterprise Partnership, completing his two terms in July 2020. He has an MBA from the University of Cambridge.
Tim Wates said: “I’m excited about taking over as chairman, with the Wates Group in a strong position to become an even more high-performing, entrepreneurial and sustainable organisation. It is an honour to be named the next chairman of our 125-year-old enterprise and continue our tradition of maintaining a long-term perspective and commitment to business as a force for good in society.”
Sir James will continue to represent and work with Wates
Sir James said: “I have enjoyed my ten years as chairman enormously, and the time is now right to pass the baton over to my cousin Tim. I look forward to continuing to serve on the Board and being actively involved in the business, including representing Wates in external forums.”
