Saffron Housing Trust announced today that its chief executive and director of housing and finance, have both handed in their resignations. This comes after the organisation was downgraded for failing to appoint board members properly.
In a regulatory judgement in September 2016, the Homes and Communities Agency (HCA) downgraded the 5,000-home landlord’s governance rating to a non-compliant G3, which reflected “the scale, impact and duration of Saffron’s historic failures”.
The HCA criticised Saffron for keeping quiet about the failings since 2011, having only informed the regulator in June 2016.
Its judgement said Saffron had informed the regulator that problems in the governance process and failures to comply with its rules meant some board members had not been appointed properly. This continued over a period “of several years”.