Steve Morgan, founder of housebuilder Redrow, has returned to the board of the company as acting executive chairman having increased his stake in the firm to 29.9%. Chief executive Neil Fitzsimmons left his post on March 23 but will stay to the end of April to help with the transition. Chairman Alan Bowkett will also step down, on June 30. Group finance director David Arnold, and regional chairmen Colin Lewis and John Tutte will remain on the board and will all report directly to Morgan. “I am delighted to be rejoining the Board of Redrow, with the support of the board and leading shareholders. Redrow is a tremendous business with a great heritage and I am passionate about ensuring the future success of the company, in the face of the unprecedented challenges that confront the industry.” Fitzsimmons has been chief executive of Redrow since August 2005 having been group managing director for two years. “I believe in the underlying strength of the Redrow business and the decisive actions we have successfully implemented to address the current very challenging market conditions”, he said. Morgan founded Redrow in 1974 and left the company in 2000 to focus on his private development interests. …