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The end of the tax year might not seem like a hugely significant milestone to those of us who don't have an ISA or work in accounting, but here at Connexus it marks both the full completion of our corporate restructure and the 2nd anniversary of Richard Woolley leading the organisation as our Chief Executive Officer.
Connexus was formed back in 2017 via the merger of 3 local Housing Associations, but this was only the start of our journey. Last April, our tenants saw the landlord named on their tenancy agreement become Connexus and this work to streamline our governance has continued behind the scenes over the past year. Our legal name is now consistent across the business as Connexus Homes Limited, a change that allows us to better utilise our cash and deposits (compared to when we were legally a few separate entities). This ability to more efficiently manage our finances as one entity lowers our borrowing costs, resulting in an organisation that is even more robust and financially sound.
"The Corporate restructure will lower our borrowing costs, giving Connexus more financial stability and resilience moving forward." - Andrew Cooke, Director of Resources.
And what does this mean for our customers? The streamlining and savings will give an increased capacity for new developments across Herefordshire and Shropshire. Our recent Corporate Plan promised to deliver more housing to the rural communities across the areas in which we operate, and that’s exactly what we’re doing. We’ll continue to work with Local Authorities to respond to specific housing needs of communities, make sure we invest in the right way for each town or village – with a mix of properties for affordable rent, social housing and shared ownership. At a time when private rents and house costs are spiralling, investment into new homes in the rural areas that we operate is vital to sustain these communities in the long term.
2021 also marks the 2-year anniversary of Richard Woolley leading Connexus as our Chief Executive Officer. Richard’s tenure as Chief Executive Officer has seen Connexus go through the significant restructuring we’ve already covered. Our experienced and knowledgeable Executive Management Team was recently made complete with the appointment of Jo Tracey as Director of People, reflecting our renewed focus on colleague wellbeing and mental and physical health. Our new People directorate will ensure that our values are embedded throughout Connexus, with a strong customer focus that never forgets to consider the wellbeing of our colleagues. Our Executive Team is complemented by a Board that brings the right mix of experience and innovative ideas to implement our Corporate Plan. You can find out more about the members of our Executive Team and Board over on the Meet The Team page.
This restructure means that Connexus can effectively and efficiently deliver what we set out in our Corporate Plan, with a firm focus on customer satisfaction and the delivery of affordable homes. We want to grow Connexus, not just to provide new homes, but to place greater emphasis on the issues that matter most to our customers - regeneration of existing homes, reduction of fuel poverty, improving services - and responding effectively to external factors – climate change, environmental standards and government policy. We are passionate about the services we provide. We Are Connexus.
