The group made the announcement today as it unveiled Kieran Murphy as his successor.

Kieran will take up his new role as a non-executive director and chairman of the company when Bob retires on January 2.

As announced in July as part of Mears’ planned process of Board evolution, Bob had indicated to the Board his intention not to stand for re-election at the 2019 Annual General Meeting. With the appointment of Kieran now agreed, Bob has decided to retire from the Board.

Having spent much of his career working in finance, Kieran joined the civil service after university, spending eight years at HM Treasury. His subsequent executive career was in the City, firstly at UK merchant bank Kleinwort Benson and, more recently, at boutique corporate finance advisory firm Gleacher Shacklock. At Kleinwort, he built a market-leading corporate finance advisory business in the building and construction sector and became a member of the bank’s Investment Bank Management Committee. At Gleacher, he extended his advisory work into the business services sector.

Kieran also has extensive experience as a non-executive director, having previously been on the board of Kingspan Group and currently being on the board of Aliaxis SA. He is chair at the Ordnance Survey, Great Britain’s national mapping business, and is on the boards of the University College London Hospitals Foundation Trust and of the University of London.

David Miles, chief executive at Mears, said: “I am pleased to welcome Kieran Murphy to the Board of Mears. He brings a broad range of valuable experience into the boardroom as we continue to drive the business forward. I look forward to working with him in the years ahead.

“At the same time, we must all recognise the great contribution that Bob Holt has brought to Mears over the past 23 years. His commitment and guidance still underpins much of the business here today. Bob leaves with our thanks and we wish him every success in the future.”

Kieran Murphy added: “I am delighted to be joining the Board of Mears. The company plays an important role in the UK housing market and I look forward to working with the Board and management team to continue to build on the leading sector position it has created.”