David Williams has been appointed as Shepherd Group chairman, replacing Alan Fletcher who has stepped down after almost 13 years.
Mr Williams joined the group’s board of directors in March as part of a planned succession to Mr Fletcher, who joined the board in 1994.
Mr Fletcher will remain on the group board as a non-executive director until October.
Deputy chairman, Patrick Shepherd, said: “Shepherd Group has made significant progress over the past two decades thanks to Alan’s vision and sound judgment. His inspirational leadership leaves a strong legacy. I would like to thank him for his unstinting dedication in ensuring a bright outlook for the group.”
Mr Fletcher said: “I am proud to have played a part in Shepherd Group’s development over the past 20 years and in helping to secure its future success with the appointment of David Williams. I know I will be passing the Mr baton to a safe pair of hands; David has a wealth of experience in relevant sectors and has quickly won the respect and confidence of colleagues.”
Mr Williams has previously worked with WS Atkins and Taylor Woodrow before a period in the private equity industry with 3i, where he rose to the position of regional managing director.
He has worked internationally as chief executive at Serimax SAS of France and at Logstor AS of Denmark and is currently chairman of Frog Capital, a family business investment vehicle based in London and Ramco Services, which services the oil industry and is based in Aberdeen.
Shepherd Building Group grew turnover by 11 per cent in the year to June 2013 but profits dipped through a combination of restructuring costs, “a small number of challenging contracts” and its exit from the loss-making Homeseeker business in May 2013, which incurred an operating loss of £2.1m during the year.