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UK builder Persimmon names Roger Devlin as new chairman

Reuters - UK Focus

LONDON, March 15 (Reuters) - Persimmon (Frankfurt: 882058 - news) , Britain's second-biggest builder, on Thursday named Roger Devlin as its new chairman, hoping he will help the company move on after a row over an executive incentive plan saw his predecessor quit last year.

Devlin will step down as chairman of pub operator Marston's and as the senior independent director of the Football Association on May 1 and start as Persimmon chairman on June 1.

He is also chairman designate of bookmaker William Hill (Frankfurt: 633847 - news) .

In December Persimmon's then chairman Nicholas Wrigley and the chairman of the company's remuneration committee Jonathan Davie quit, recognising their mistake in not putting a cap on the incentive plan.

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That scheme has since been reined in but originally could have seen the firm's top management, including Chief Executive Jeff Fairburn, make a profit of more than 200 million pounds ($280 million) on share options.

($1 = 0.7150 pounds) (Reporting by James Davey; editing by Costas Pitas)