Edinburgh-based Miller Homes said Stewart Lynes will be appointed chief executive officer at the end of March, 2022, succeeding current CEO Chris Endsor, who will become executive chairman.
John White will step down as chairman.
In December, Miller Homes was bought from private equity firm Bridgepoint Group plc by funds managed by affiliates of New York-based investment firm Apollo and the existing Miller Homes management.
The transaction price is understood to be over £1.2 billion. The deal is subject to customary closing conditions and is expected to be completed in the first quarter of 2022.
Miller Homes currently builds 4,000 homes a year across the UK, predominantly in Scotland, the North of England and the Midlands, with ambitions to grow to 6,000 units in the medium-term.
“Stewart will assume responsibility for the overall management of the business,” said Miller Homes.
“He joined Miller Homes 15 years ago and has held various senior positions during that time including chief operating officer since 2019.
“Stewart has consistently demonstrated his passion and enthusiasm along with his ability to help drive the successful delivery of the company’s strategy and track record.
Endsor said: “This is a very exciting time for the business and these changes have been planned for several years to ensure business continuity as we move into the next phase of our growth strategy.
“Stewart is an exceptional leader, the unanimous choice of the board, and we have every confidence in him.
“As executive chairman, I look forward to continue to work closely with him and all of the Miller Homes team to further enhance our position as a leading UK homebuilder of quality family homes.”
“I would also like to express my sincere gratitude to John White who will step down as chairman from the end of March for his support and commitment to Miller Homes over the last four years.
“The board and I wish him well for the future.”
Lynes said: “It will be a privilege to step up to CEO at an important time for Miller Homes.
“We have an exceptional team and our position as one of the country’s leading homebuilders means we are well placed to continue our strong performance trajectory.
“I look forward to leading the business and continuing our strategy of building high quality homes in our core regional markets and creating value for all of our stakeholders.”