Succession plan triggered at Hurstwood Holdings

Chief executive and majority shareholder Stephen Ashworth will hand over the day-to-day running of the business to his son Sam.

After 32 years as Hurstwood Holdings’ CEO, Stephen Ashworth is stepping down from the role he took on from his father in 1994. He will remain as executive chair of the board.

During more than three decades, Ashworth senior has grown Hurstwood’s assets under management to £400m. The firm also has a development pipeline worth £80m.

“After more than three decades building the business, the time is right for the next generation to take the day-to-day lead as we enter a new phase of expansion,” Stephen Ashworth said.

“Sam has been instrumental in driving change within the company, bringing new initiatives and adopting a proactive, hands-on approach that has helped position Hurstwood for the future. His energy, enthusiasm and clear vision for the business make this an exciting time for the company and everyone involved.”

Thirty-year-old Sam Ashworth becomes the third generation to run the family firm.

His promotion to chief executive comes 13 years after joining the business as a development surveyor. For the last six years he has been a project director.

“It is a privilege to take on this new role at Hurstwood and have the opportunity to lead a hardworking and talented group of people into our next chapter,” he said. “I look forward to working with the team in continuing to adapt and improve the already strong and valuable platform created by Stephen and Andy [Park]and making further significant strides forward for our business.’’

Park will stand down as managing director, moving into a part-time role as chief financial officer.

Phil Brassell, who has been with the company for five years, has been promoted to head of construction, while Matt Bint has been promoted to group estates director.