THE head of the company which manages council property in Waltham Forest is expected to stand down, following concerns about the organisation’s performance.

Ascham Homes board members agreed to start negotiations over chief executive Hasset Auguste’s future and he is expected to announce his departure imminently.

Matters are understood to have come to a head after a government inspection to determine whether the company would secure vital funding to improve housing, was postponed for fear of failure.

The council is said to have ‘no confidence’ in the chief executive to deliver necessary changes to ensure the funds are secured.

A source on the Ascham homes board said Mr Auguste made a ‘dignified speech’ at a board meeting on Monday, during which he announced his decision to leave the company.

The development comes after a difficult couple of years for the arms length management organisation.

Government targets to bring homes up to a basic standard of decency have been missed.

The company also lost a series of legal challenges to a ruling which meant it could not force leaseholders to pay for works carried out on blocks of flats they share with council tenants.

The council was forced to bail out the company to the tune of £5 million when Ascham Homes conceded defeat.

Alan Siggers, Ascham Homes board member, said: “I have got the greatest respect for Hassett and I think he has probably taken the view that he has taken Ascham homes as far as he can possibly take it.

“I wish him good fortune in whatever endeavours he takes on next.”

Another board member who asked not to be identified described the situation as “very sad”, but said “things could not go on as they were – we don’t want to get into the blame game, there is fault on both sides.”

A council spokesman said it would be “inappropriate” for the authority to comment on the Ascham Homes board decision.

Mr Auguste was unavailable to comment on the issue.

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