LNT Group has today promoted it commercial director Matt Lowe to take operational control of the company as its new chief executive. Lowe has been commercial director at LNT for over three years.
The promotion comes hot on the heels of LNT’s sale to Anchor of 24 homes operating under the Ideal Carehomes name. Lowe oversaw that £100 million sale, which puts the group in a positive cash position.
“The Anchor deal means LNT is now debt-free, so we can now concentrate on our growth without the distraction of frequent re-finances. Whilst we have retained 16 of our homes under the Ideal Carehomes brand, we are a much smaller business now. My focus is going to be on retaining the family business feel and looking at how we can reward our staff for their performance and loyalty to the business. Our ethos at LNT is very simple, “Quality, value and innovation” so I’ll be reviewing each part of the business to see how we can strengthen our proposition to accelerate growth now we are unencumbered by debt,” Lowe explained.
LNT Group owner, Lawrence Tomlinson, said he is delighted to hand over additional responsibility to Lowe, as he takes a step back from operational responsibility. “I’m really pleased to have Matt take the helm of the business. He has been an important part of LNT for many years and I know he will continue to develop the businesses in line with my vision. My role will now be more strategic and forward planning, in line with a traditional Chairman’s position.”
Lowe added: “It was a great compliment be asked by Lawrence to take the position of Chief Executive. The role feels like a very natural progression for me but I’ve clearly got some big boots to fill.”