Bovis rejects £1.2b bid, appoints new CEO

Bovis Homes Group, a U.K.-based home builder, has appointed Greg Fitzgerald as its new CEO at the same time as it turned down a £1.2 billion ($1.5 billion) takeover offer from rival home builder Galliford Try.

Fitzgerald will assume his new role April 18. He succeeds David Ritchie, who stepped down in January.

Fitzgerald worked at Galliford Try for more than 30 years as its CEO and chairman. He retired from the firm in 2014. He is also a former nonexecutive director of the NHBC and is nonexecutive chairman at Ardent Hire Solutions and Baker Estates.

While announcing the new appointment, Bovis confirmed it had rejected a takeover bid by Galliford Try and an offer from Redrow, another home builder.