ALAN Brown is stepping down as chief executive of Cala Homes after more than three decades at the group, writes Kevin Scott.
Mr Brown will leave the business at the end of April. Graham Reid, group finance director, will assume the position of interim chief executive, while the company searches for a successor.
Having joined Cala in 1986 as development manager, Mr Brown went on to lead the group through the wider market downturn and oversaw the sale process from Lloyds Banking Group that secured the backing of Legal & General and Patron Capital in 2013 before delivering the acquisition and successful integration of Banner Homes in 2014. Mr Brown also led the acquisition of the group by Legal & General last month. In its fifth year of record profits, Cala delivered a pre-tax profit of £68.5 million in 2017, having pushed revenue to £750m.
Mr Brown said: “This was not an easy decision. I’ve spent nearly my entire career at Cala, working with a talented group of people to build the great business that it is today.”
Kerrigan Procter, chief executive of Legal & General Capital, said: “The group is much stronger and more resilient as a result of his direction and the board is confident of achieving continued and sustainable profitable growth into future.”
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