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The last blog: a farewell from L&Q’s chief executive
David Montague bids the sector farewell, and reflects on knowing when it is time to move on
This is probably the last blog I will write for Inside Housing. L&Q has named its new chief executive, and after almost 33 years I am heading off into the sunset. So please indulge me once more, just for old time’s sake.
One of the first things every new chief executive must think about when they start the job is when to leave. And what they want to accomplish before they go.
Don Wood, the chief executive of L&Q before me, always had in mind that he would leave after 20 years.
“Former L&Q chief executive Don Wood made himself scarce for one whole year, not contacting anyone at L&Q to make sure that his ghost didn’t haunt the corridors”
A long time in the driving seat but not unusual. He never told anyone about his plans, but on his 20th anniversary he left and spent one month in Australia just to make sure we all knew he had gone. Then he made himself scarce for one whole year, not contacting anyone at L&Q to make sure that his ghost didn’t haunt the corridors. Since then Don and I have kept in touch; he has been my mentor during this whole time. But he never expressed an opinion on the decisions I made – those were mine.
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One piece of advice he did give me, though, was that when my time as CEO comes to an end, I should step off the cliff edge with confidence that the universe will catch me. So after 13 years I stepped off the cliff and found myself in freefall for a while but, sure enough, a big hand stretched out its fingers and caught me. We all fear change but most of us land on our feet.
“Jo Peres suggested that, as with non-executive directors, the tenure of the CEO should be time-limited, perhaps to six years. A bit weird considering I was standing right beside her”
When I first took on the L&Q job, one of the first chief executives I met told me that the boss shouldn’t stay for more than three years, five max. Thirteen years on, he is still going strong in the same role. Funny old world, must be something about housing.
I guess the most important thing is that the boss doesn’t stagnate, because when they do it affects the culture and performance of the whole organisation. All of us need to make sure that we are not bed-blocking, preventing the next generation with fresh ideas and energy from taking the wheel.
Recently I spoke at a housing diversity event. On the same panel was Jo Peres, L&Q’s development performance analyst and co-chair of Spectrum, our LGBT network.
She spoke with passion about the need for existing CEOs to move on and make way for a more diverse generation and suggested that, as with non-executive directors, the tenure of the CEO should be time-limited, perhaps to six years. A bit weird considering I was standing right beside her and by all accounts was way past my sell-by date, but I love Jo’s preparedness to say what she thinks. What she didn’t know at the time was that announcement of my departure was imminent.
“My coach says I should be like Mary Poppins – leave when people think they still need me, but they don’t really. So my umbrella is up and I will be away with the next gust of wind”
So why now for me?
My intention from the start was to stay for 10 years – half as long as Don. Ten years is plenty. But just before my 10th anniversary, the Grenfell tragedy changed everything and I felt that I had to stay. Then Brexit came along. And then a pandemic.
So I stayed until I was confident that the mists were clearing and that we could plot a steady course forward. The challenges ahead may be greater than ever, but L&Q has great people, a top-notch board and a new five-year plan that prioritises our residents, their homes, their safety, their communities. So now is my time.
The next chapter for L&Q, as always, will be the best so far. I will read it with admiration but the pen won’t be in my hand.
My coach says I should be like Mary Poppins – leave when people think they still need me, but they don’t really. So my umbrella is up and I will be away with the next gust of wind. Where I land, I am not yet sure, but I won’t stray far from housing.
Now the torch is yours. Look after the place. So long.
David Montague, chief executive, L&Q
UPDATE: 11.1.2021 8.52 am
This story was updated to reflect the announcement of the new chief executive of the housing association L&Q this morning.
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