<p>Redrow’s executive chairman John Tutte will delay his move to non-executive chairman until November 2020 as a result of the “unprecedented impact” the coronavirus crisis has had on the business, it announced today (April 20).</p> <p>In an update on the measures Redrow is taking to mitigate the effects of the virus, the housebuilder said that Tutte, due to step back to non-executive chairman from June 30, would postpone this until the company’s AGM.</p> <p>“John will support the senior management team to ensure an orderly return to operations when the business is satisfied it is safe to do so,” Redrow’s update read. It added that Tutte still intended to retire from the board ahead of 2021’s AGM. </p> <p>Matthew Pratt, currently chief operating officer, will become group chief executive from July 1, as previously announced.</p> <p>And further to its announcement on April 9 on qualifying for the Bank of England's Covid Corporate Financing Facility, giving it a £300 million loan, Redrow said it had now secured an additional £100 million under its existing Revolving Credit Facility (RCF), bringing this to £350 million with the facility maturing at the end of December 2022. </p>