Cala Homes boss steps down af­ter over­see­ing sale to L&G

The Daily Telegraph - Business - - Business - By Rhi­an­non Curry

THE chief ex­ec­u­tive of Cala Homes, one of the coun­try’s largest house­builders, has an­nounced plans to re­tire, a month af­ter he over­saw the sale of the busi­ness to in­surer Le­gal & Gen­eral.

Alan Brown joined Cala in 1986 as de­vel­op­ment man­ager, mov­ing up the ranks to be­come group man­ag­ing di­rec­tor dur­ing the grip of the fi­nan­cial cri­sis in 2008.

He was ap­pointed as chief ex­ec­u­tive in Septem­ber the fol­low­ing year, and over­saw L&G’s ac­qui­si­tion of the 52pc of Cala it did not al­ready own last month. L&G had ini­tially bought a stake in the busi­ness in 2013.

Cala said that it had al­ready be­gun the search for a new chief ex­ec­u­tive. Mr Brown will leave his role at the end of April and will be re­placed by Gra­ham Reid, group fi­nance di­rec­tor, on an in­terim ba­sis.

Ker­ri­gan Proc­ter, chief ex­ec­u­tive of­fi­cer of Le­gal & Gen­eral Cap­i­tal, said: “The group is much stronger and more re­silient as a re­sult of [Mr Brown’s] di­rec­tion and the board is con­fi­dent of achiev­ing con­tin­ued and sus­tain­able profitable growth well into the fu­ture.”

Last year, Cala boosted its rev­enue by 27pc to £747.9m, while pre-tax prof­its in­creased by 14pc to £68.5m.

Mr Brown said he planned to take a short time out from cor­po­rate life in or­der to think about what roles he might wish to pur­sue in the fu­ture. “When I took over as chief ex­ec­u­tive, the com­pany had sig­nif­i­cant chal­lenges and as a team we’ve worked ex­tremely hard to over­come those chal­lenges and build a large and very suc­cess­ful busi­ness that now en­joys the long-term sup­port of one of the UK’s blue-chip com­pa­nies,” he added.

Alan Brown will leave the house­builder at the end of April. Cala said it has be­gun a search for a new chief ex­ec­u­tive

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