07 February 2025
Summary: MTVH announces that Chief Financial Officer, Ian Johnson, has informed the Board if his intention to retire after a 40 year career and will step down from his role in the Autumn of 2025 and once a replacement is in post.
Metropolitan Thames Valley Housing Association (MTVH) announces that Chief Financial Officer, Ian Johnson, has informed the MTVH Board of his intention to step down from his role in the Autumn of 2025 and once a replacement is in post.
After ten years as Chief Financial Officer of MTVH, or its preceding organisations, and a forty-year career in a variety of senior commercial roles Ian has decided the time is right to retire.
MTVH’s Chief Executive, Mel Barrett, is leading the search and selection process for the new CFO, supported by other Board members, and has appointed executive search specialists Page Executive to assist. Ian will remain in post until the new Chief Financial Officer is appointed and in place working closely with the main Board, Chief Executive and rest of the Executive team to deliver on MTVH’s financial strategy and assist in a smooth handover to his successor.
Ian Johnson said: “Serving as Chief Financial Officer for a values-based organisation like MTVH has been a great privilege.
In a sector facing several competing pressures, stewarding MTVH’s finances has involved many challenging decisions, however it has been wonderful to see our residents always at the forefront of our thinking. This was exemplified by our 2023 Board decision to provide fully for the remediation cost of our qualifying leaseholders and create a carve out from our loan covenant to expedite MTVH’s fire safety remediation programme.
Over the last ten years I have worked hard to build a finance team with strength in depth that has well-established reporting and financial control processes and a clear operating model. After a 40 year career, this therefore feels the right time for me to retire and hand over responsibility.
I am proud of what we have achieved together in my time at MTVH. We have enhanced resident experience, created great places to live and met the challenges faced by communities by supporting people to live well.”
Mel Barrett, Chief Executive said: “On behalf of The Board and Executive Team, I would like to thank Ian for his contribution to MTVH, and wish him well on his well earned retirement.
Ian leaves MTVH in a strong financial position with our credit rating recently confirmed as A- stable by Standard & Poors in December 2024. We have the highest possible G1 Governance Standard rating from the Regulator of Social Housing and a V2 Financial Viability rating.
While current market conditions make development of homes more challenging, we continue to have the financial capacity to build new homes and are on track to deliver 569 homes in the year to March 2025. Our financial results for the six months to September 2024 showed a robust balance sheet with available liquidity of £675m and a low gearing ratio of 39%
We are now focused on the appointment of a new Chief Financial Officer who will build on this track record of success and continue to maintain our strong financial governance while helping to maintain MTVH’s values as a social purpose organisation which was established in 1957 to house Windrush migrants and exists to deliver for our residents.”
Biography Ian Johnson
Ian joined MTVH in 2015 and became a member of its Board in 2016.
Ian spent most of his professional career in the development and contracting sectors, with more than a decade’s experience at board level. He has raised capital, completed re-banking exercises and conducted a business turnaround. He has also led a number of change projects, including merging two $2 billion US homebuilding businesses and a finance transformation project for National Grid.
Ian has worked in the USA, India and South Korea for extended periods. He is a chartered accountant and an ex-Royal Navy submarine officer.