Mr Allison will be replaced by Stuart MacGregor, the housebuilder’s chief operating officer, when he retires in March.

During his career he has served as president of the Institute of Chartered Accountants of Scotland and vice chairman of CBI Scotland.

Group chairman Stewart Milne said: “Glenn and I have worked closely together for over three decades during which we’ve grown and evolved the business, through good times and bad.

“He has been instrumental to the on-going success of the business and I am incredibly grateful to him for all his hard work, support, counsel and expertise over these years. He will be greatly missed and the whole group wishes him an enjoyable and rewarding retirement.

“Thanks to his leadership, we’re firmly on track with our ambitious growth strategy and well into our transition plan. With Stuart, working alongside the managing directors of the homes’ and timber systems’ businesses, we’ve got a talented and experienced senior executive team, with both the ambition and capabilities to drive further growth.”

Mr MacGregor joined the business as group finance director in 2015. He has over 25 years’ experience in business and finance leadership roles, including a 15-year career with global brewing giant Heineken, where he worked in several European countries and the UK. 

Stewart Milne added: “This new appointment comes at a very exciting time for the group. We’ve turned a corner following several difficult years which have seen us balance our investment in growing our geographical footprint in central Scotland and North-west England and our timber systems business against a decline in North-east Scotland, historically our largest market.

“I’m really pleased that our ambitious plans have paid off and we have grown our group turnover by a third over the last two years alone. We’re now in a very strong position with a more balanced portfolio of developments across those geographic regions where demand for housing is strongest and continued growth in our timber systems business which is meeting the increasing demand for off-site construction solutions.”

Mr MacGregor said: “I am pleased and honoured to take up my new role in March. I know I’ve got big shoes to fill in replacing Glenn who has made such an impact on the business but I’m looking forward to the challenge.

“It’s a very exciting time to be part of an independent housebuilder which has demonstrated agility and ability to react boldly but prudently to market conditions.”