MJ Gleeson (LSE:GLE) said it has appointed Graham Prothero to succeed James Thomson as chief executive when he steps down at the end of the year.
Thomson was appointed chief executive in 2019 to implement the cultural and structural changes necessary to meet the low-cost housebuilder's strategic goals over the medium term.
Following the successful implementation of those changes, Thomson intends to step down and will do so with effect from 31 December 2022, the company said in a statement. He will remain on the board as a non-executive director.
"We have achieved much over the last three years, during which time I have been supported by a strong and talented team of colleagues. Gleeson is now even better placed to deliver the quality low-cost homes our country urgently needs," said Thomson.
He stated that he remains fully focused on meeting the results for the current financial year and making sure the business continues to grow through 2023.
Following a comprehensive search process that involved both internal and external candidates, the board said Prothero, currently chief operating officer (COO) of Vistry Group PLC (LSE:VTY) is to replace Thomson.
In January 2020, Prothero was appointed COO of Vistry following the acquisition by Bovis Homes Group PLC of Galliford Try Holdings PLC (LSE:GFRD)'s housing businesses. Prothero was chief executive of Galliford Try from 2019 and the company's finance director prior to that.
"We are delighted to have secured Graham Prothero as the group's next CEO. His outstanding track record and experience in housebuilding make him the ideal choice to lead the group in the next phase of its development," said Dermot Gleeson, chairman.
"I am also delighted that James has agreed to remain on the board as a non-executive director, where we will continue to benefit from his knowledge of the company and industry."