Williams joined the Shepherd Group board of directors in March as part of a planned succession to Alan Fletcher, who has stepped down after almost 13 years as chairman.

Fletcher will remain with the Yorkshire construction group as a non-executive director until October when he will leave.

Fletcher said: “I am proud to have played a part in Shepherd Group’s development over the past 20 years and in helping to secure its future success with the appointment of David Williams.

“I know I will be passing the baton to a safe pair of hands; David has a wealth of experience in relevant sectors and has quickly won the respect and confidence of colleagues.”

Williams began his career as a naval architect and later gained experience of engineering and construction with WS Atkins and Taylor Woodrow before a period in the private equity industry with 3i, where he rose to regional managing director.

He is currently chairman of Frog Capital, a family business investment vehicle based in London and Ramco Services, which services the oil industry and is based in Aberdeen.