Graham, who joined Galliford Try as group finance director in 2013, succeeds Peter Truscott with immediate effect.

Truscott is expected to join Crest Nicholson in September 2019 after his current contract expires.

Galliford Try said it has long identified Graham as a potential CEO after his distinguished career including finance director at Development Securities plc and a partner at Ernst & Young. Having been with the business for six years, Graham has an intimate understanding of all facets of its operations, including playing a key role in last year’s highly-successful rights issue, and the strategic development of the Partnerships business.

Taking over as group finance director is Andrew Duxbury, who joined Galliford Try in March 2012 as group financial controller. Since then, he has held a number of operational finance roles, including finance director of Linden Homes, the housebuilding business of Galliford Try, giving him detailed knowledge across the group. Prior to joining Galliford Try, Andrew was with PwC.

Graham and Andrew have worked closely together at the group for a number of years, enabling a seamless transition to their new roles.

Commenting on his new appointment, Graham said: “I am tremendously proud and honoured to have been given the chance to lead our great business, and I thank the Board for giving me this opportunity. The outlook for Galliford Try is exciting as we continue our strategy towards 2021 and I am looking forward to working with Andrew, the other executive directors and the Board, and continuing to make good progress across all three of our businesses.”

He added: “For me, people are the key to our success and I have a personal commitment to ensuring Galliford Try is an employer to be proud of, and a great place to develop a career.”

Peter Ventress, chairman of Galliford Try plc, said: “As a Board, we are pleased that our strategic succession planning has enabled us to make a smooth transition both for the role of CEO and that of finance director. We take succession planning very seriously and are delighted that our efforts in this area have paid off so well.”

He added: “On behalf of the Board, I thank Peter for his contribution to the group and wish him well for the future. I congratulate Graham and Andrew on their new roles and look forward to working with them and the team to deliver our ambitions.”