Annual Report and Accounts 2010

Corporate responsibility

As a major community developer, we have social, ethical, environmental and economic responsibilities that we take extremely seriously. We believe that corporate responsibility is an essential part of good governance and makes sound business sense, as well as being crucial for risk and opportunity management.

Following my appointment in July 2010, I was also very pleased to meet with a number of our major shareholders to discuss both business and governance matters, which I found very helpful indeed. I look forward to further such meetings during the course of 2011 and to meeting with shareholders at the Annual General Meeting on 21 April 2011.

During 2010, we have embedded our approach to corporate responsibility more fully into the day to day management of the business. As such, although ultimate responsibility continues to rest with the Group Chief Executive, Pete Redfern, the Corporate Responsibility Committee of the Board has been disbanded. However, the Board will continue to review our corporate responsibility strategy and reporting on a regular basis. Our Sustainability Steering Group, comprising seven senior personnel from relevant disciplines across our UK business, coordinates our sustainability activities at the operational level and we continue to benefit from our excellent and fully integrated health, safety and environmental management system.

Our people

I have been very impressed by what I have seen of our business and our people so far. They have demonstrated a very strong work ethic, together with huge pride, creativity and responsibility in support of the Company as well as the homes and communities that we build.

We would like to record our thanks to all of the people within our business and particularly those in our North American business who have had the additional uncertainty of ongoing speculation regarding a potential change of ownership.

Board changes

After seven years as Chairman of the Company, Norman Askew stood down at the end of June 2010. Norman guided the Company safely through unprecedented market conditions and leaves it well positioned for the future.

I was appointed to the Board as Chairman on 1 July 2010 and I am delighted to have joined an excellent Board, experienced, unified and fully committed to the Company and its stakeholders.

Ryan Mangold joined the Board as Group Finance Director in November 2010. Ryan joined Taylor Wimpey in April 2009 as Group Financial Controller and has played an important role in delivering the recent refinancing. I would like to take this opportunity to welcome him to the Board and thank his predecessor, Chris Rickard, who stood down in November 2010, for his significant contribution to the Group.

As stated in last year's Annual Report, David Williams stood down as a Non Executive Director on 31 March 2010. Rob Rowley, who joined the Board on 1 January 2010, succeeded David as Senior Independent Director in addition to his role as Chairman of the Audit Committee.

We have recently announced that Katherine Innes Ker and Andrew Dougal will be stepping down as Non Executive Directors immediately prior to the Annual General Meeting, after long and distinguished service to the Board. Katherine has served on the Board for more than nine years and Andrew for more than eight.

As announced in February 2011, I am very pleased that Kate Barker will be joining the Board as a Non Executive Director with effect from 21 April 2011. Kate brings a wealth of economic and political experience as well as a detailed knowledge of the housing industry.

I would like to record the Board's enormous gratitude to Norman, Chris, David, Katherine and Andrew for their contributions in what have been some very challenging times.

Kevin Beeston

Chairman