Retirement Villages Group has announced that Will Bax, the group’s chief executive, is set to step down from his role after five years leading the company.
He will be replaced by Tim Seddon, who is currently serving as chief property officer, who has worked closely alongside Bax as an executive director at RVG since March 2020.
As a member of the executive team since he joined, Seddon has been responsible at different times for development, property services and sales and marketing.
New CEO Seddon to Focus on Business Continuity and Strategy Execution at Retirement Villages Group
In his new role as CEO, Seddon’s primary focus will be on business continuity and working with the executive team to deliver the current strategy.
Bax joined Retirement Villages Group in 2019 with a mandate to modernise RVG and focus the business on creating a brilliant resident experience.
In doing so he and the executive team have transformed the company’s culture, improved its operational efficiency and overseen a major programme of investment in the existing village estate.
In tandem, backed by Retirement Villages Group’s owner AXA IM Alts acting on behalf of its clients, Will has led a strategy to develop a model for urban, socially connected, sustainable retirement communities.
Called the Thrive Living collection, the first of these communities will open its doors in Chester at the end of 2024, followed by West Byfleet and Tunbridge Wells in 2025.
Under Bax’s leadership, Retirement Villages Group has been a passionate advocate for change in the sector, including the introduction of greater consumer protections and the need for planning reform to support delivery of housing with care.
In the context of these campaigns, Retirement Villages Group recently launched a new customer contract offering customers a more simple, certain and affordable way to buy, live and sell their home.
RVG will continue to focus on delivering an excellent experience for residents with the advancement of the later living sector under Seddon’s leadership.
Will Bax Transitions CEO Role to Tim Seddon at Retirement Villages Group
To support a smooth transition, Bax is to stay with the business as counsel for Seddon until early September, as he takes on the CEO role with immediate effect.
Will Bax, CEO of Retirement Villages Group, said: “The past five years have been the most rewarding period of my working life.
“We have changed the strategy and culture at Retirement Villages Group by creating a people and purpose-led business with an important mission – to create positive life choices for older people.
“Although I will miss my colleagues and the residents hugely, I am delighted to be handing over to Tim as CEO.
“He is a great leader, brings enormous passion for RVG and the sector and our current and future residents could not be in better hands.”
Tim Seddon, chief property officer, commented:
“Will has made a big impact on RVG and the later living sector.
“I am committed to continuing with his purpose driven approach to enhancing the quality of life for our residents and providing better options for people entering later life – more choice, flexibility and freedom.
“The strategy at Retirement Villages Group remains unchanged, and the team and I are looking forward to leading the business through a fascinating next chapter of growth.”
Ian Chappell, chairman of the board of RVG added:
“Following a successful five years under Will’s leadership, we are pleased to announce this natural transition.
“Tim Seddon is well placed to take the business forward given his understanding of our resident communities and the dynamics of the sector.
“He has also been at the forefront of our strategy to develop the Thriving Living collection of modern urban and peri-urban villages.
“We wish Will every success and welcome Tim as our new CEO. I look forward to working with him as we embark upon RVG’s next chapter of growth.”