Home-buying and part exchange firm Spring has announced a leadership reshuffle and set out its goals for 2023.
The company, which works both direct-to-consumer as a property purchaser, and B2B to help unlock sales for partners, is targeting £100m in acquisitions in 2023, which would mark a significant jump from the £75m worth of property acquisitions secured in 2022.
The current CEO and co-founder Cormac Henderson will take on a new role as executive chairman, while co-founder and chief investment officer Shane Miller-Bourke and chief operating officer Samar Shaheryar will become Co-CEOs.
The consumer operation of the business has continued to grow, while the B2B operation has partners including Countrywide Land & New Homes, Sequence Land & New Homes, developers Antler Homes, Duchy Homes, and later living operators McCarthy & Stone, Churchill Retirement Living and Retirement Villages Group.
Henderson commented: “I am incredibly proud of what we have achieved together but it’s time to step aside as CEO so the business can continue to flourish and achieve its next set of goals under the extremely talented co-leadership of my colleagues, who I will continue to support and challenge. Samar and Shane have the combined skill set to take us forward with a relentless focus on operating execution, cost management, tech transformation and trading ingenuity.”
In a joint statement, Co-CEOs Samar Shaheryar and Shane Miller-Bourke, added: “We have built a strong national brand and shown the market that there is another way to sell your home, making it radically easier for people to move. As we move to the next phase of growth for Spring, we intend to lead with three core principles, all underpinned with a focus on technology; creating easy and fast customer journeys, cultivating a thriving and happy team and encouraging the diversity of thought we know leads to the innovation the industry needs.”
