Effective from 30 June 2025, Mr Rice joins Cala at a pivotal time as the business embarks on an exciting next chapter under new ownership.

In October 2024, Cala was acquired by global investment firm Sixth Street and pan-European investor Patron Capital, providing a strong platform for the next phase of strategic growth across its operations in Scotland, the South of England, and the west Midlands.

Mr Rice brings a wealth of financial and strategic expertise to Cala, with a strong track record in both leading finance teams in growing organisations and the homebuilding sector. He began his career at KPMG in Ireland before moving into industry, most notably when he was appointed group financial controller at Kingspan Group plc in 2015 and playing a key role in all financial aspects of its growth strategy. 

Most recently Mr Rice was CFO of Irish homebuilder Glenveagh Properties plc, which he joined in 2017. During his tenure, he oversaw two successful stock market fundraisings and supported the company’s transition from a private entity to a publicly listed company. Under his financial leadership, Glenveagh grew from a start-up with around 50 employees to a major player in the Irish housing market, employing approximately 650 people and generating €900 million (c. £780m) in revenue in 2024.

Kevin Whitaker, chief executive of Cala, said: “Michael’s experience in homebuilding, combined with his strategic and corporate finance expertise, makes him an excellent fit for Cala as we work to achieve our ambition of delivering over 4,000 homes annually by 2029.

“I am delighted to welcome him to the team and look forward to the contribution he will make to our business.”

Mr Rice added: “I’m thrilled to be joining Cala at such an exciting time in its journey. The company has a strong reputation for quality and integrity, and I’m looking forward to working with the leadership team to help shape and deliver the next phase of growth and strategic priorities.

“With the backing of Sixth Street and Patron Capital, Cala is well-positioned to build on its success and continue providing exceptional homes across the UK.”

Mr Rice’s appointment is on the back of the recent retirement of Neil Stoddart, who has been group finance director at Cala since 2018.