Norman Askew, Chairman of the Board of Taylor Wimpey has confirmed his intention to stand down by the end of December 2010.

Mr Askew was appointed Chairman of Taylor Woodrow in July 2003 and was subsequently appointed as Chairman of Taylor Wimpey plc, following the nil

premium merger with George Wimpey in July 2007.

Since the merger, he has led the Board through the post merger integration process, the sale of the Taylor Woodrow Construction business and also through the very challenging market conditions which faced the industry during 2008 and into 2009, culminating in the Company’s successful renegotiation of its financial covenants and the raising of £510m (net) of equity in June 2009, via its placing and open offer.

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The Nomination Committee has commenced a process to recruit a successor and a further announcement with regard to the appointment of a new Chairman will be made in due course.

Mr Askew said: "We have come through unprecedented market conditions since the merger. It is important that as we enter 2010, we continue to proactively manage our business in what are still uncertain times."

(CD/BMcC)