To ensure that the business can most effectively meet the dynamic challenges of the housing and construction markets, the group has decided to consolidate the reporting lines within the senior leadership team.

As part of these changes, Mike Hathorn retires as non-executive chairman with Kevin Reid, currently group managing director, assuming the role of executive chairman. Mike has served as a non-executive director of the group for 20 years and retires with the board’s best wishes. Kevin’s current role as group managing director will be assumed by Steven Simpson.

Kevin Reid said: “I have acted as group managing director for over 17 years now, and worked with Steven in his capacity as managing director of Cruden Homes for almost all of that period. His appointment as group managing director is just reward for his contribution to the success of the business over these years, and I look forward to continuing our work together in our new roles.

“I would also like to thank Mike for his 20 years of service to the group and his respected and valuable contribution to the board through the good and the more challenging times.”

In order to maximise the benefit of the cross-sector experience within the senior leadership team, and to enable the group to react efficiently to market opportunities arising, the managing directors of Cruden Homes and Cruden Building, Fraser Lynes and Allan Callaghan respectively, will also join the group board.

These appointments sit alongside the continuing inputs of Euan Haggerty, group finance director, and Graeme Bissett, whose non-executive contribution is greatly valued.

Steven Simpson added: “The new operational board structure will further enable the group to efficiently draw upon the strengths, expertise and resources that are available within the respective Development and Construction businesses to optimise delivery of opportunities as they arise. In the current challenging market it is important that we remain agile and can react to evolving market conditions and our new structure will support this goal. I am looking forward to working closely with my colleagues as we continue to drive the business forward.”