The daughter of Murphy Group founder John Murphy has resigned from the board of directors after eight years with the company.
In a statement, Caroline Murphy said she believed the Murphy Group should develop into an employee-owned structure, but that there was “no space to develop this process further”.
Ms Murphy was appointed vice-chairman of the business by her father and helped it to double turnover from £250m to £500m in her first four years.
She said: “The natural extension of my father’s values, in my view, is the development of the Murphy Group into an employee-owned structure. I believe the future of his legacy is best entrusted into the capable hands of its people.
“I have been vocal in my belief that leadership of this business must include those working on the ground if it is to continue to deliver for the clients who have placed their trust in us over the years.
“Taking into account the direction of the board’s interests, the current structure holds no space for me to develop this process further.”
Murphy Group founder John Murphy passed away in 2009.
Ms Murphy added that she wished the business success.
“I hope the company goes on to represent my father and continues to provide work and opportunity for many years to come,” she said.
The Murphy Group is the parent company of seven businesses, including J Murphy & Sons, Murphy Pipelines, Murphy International and Murphy Homes.
Caroline Murphy statement:
She said: “Following eight years with the Murphy Group, I have formally decided to exit the company.
“My father John Murphy remains a great inspiration to me. I was delighted to have seen the company grow in strength during the years I worked to embed his values into the structure of the Murphy Group.
“I was proud to see those efforts recognised independently too, when I was named as one of the top five private business women in the UK.”
Accounts for J Murphy & Sons filed to Companies House in July last year showed that overall turnover, including joint ventures, climbed by 23.8 per cent in the year to December 2012. Revenue hit £656.1m, up from £530.1m in 2011.
Pre-tax profit was however down by 17.1 per cent to £21.9m, and operating profit slid 25.8 per cent to £17.2m.