Persimmon launches a review to rebuild its image | Business

Persimmon, UK's most profitable home builder, launches an independent review of its customer service, culture and quality of work as it attempts to end the executive pay scandal complaints against his new homes.

The review, which will be led by an independent President, Stephanie Barwise, CR, of Atkin Chambers, will examine Persimmon's customer service approach, systems, culture, quality badurance processes, and speed and consistency of its response to problems. He said the results would be published by the last quarter of 2019.

Persimmon faced an investor uprising last year after a compensation package linking rewards to stock market performance and rumor of a scandal: £ 500 million bonus paid to 150 executives, for a record annual profit £ 1.1 billion thanks to the help of the government buy scheme.

The criticism was aimed at former CEO Jeff Fairburn, who was waiting for a 110 million pound bonus and who explicitly refused to answer questions about his salary in an interview with the BBC. He finally received close to 85 million pounds over a period of two years, the policy having finally been approved by the shareholders.

Although home builders have had to cope with a sluggish market, Persimmon has enjoyed growing success in focusing on building cheaper family homes, selling more in 2018 despite uncertain market conditions in the midst of Brexit.

Shares of FTSE 100 have more than doubled since the introduction of purchase badistance in 2013, according to the Financial Times. Persimmon relied on this system for nearly half of its sales last year.

"Persimmon has focused on the rapid evolution and improvement of its customer service culture and operations, as well as the elimination of poor workmanship," said the company. "To badess the effectiveness of new processes and measures and determine whether they are properly positioning the company for the future, the Persimmon Board of Directors (…) has commissioned an independent review."

Persimmon has recently been ranked as the lowest of the major home builders in the Home Builders Federation's annual customer satisfaction survey, a key reference in the sector.

In March, the company reacted to criticism of the quality of its homes by announcing that it would allow buyers to retain 1.5% of the value of their property – an average of £ 3,600 per unit – until all defects are corrected.