He will take up the new role at MJ Gleeson at the end of the year.
Gleeson’s existing chief executive James Thomson will become a non-executive director at Gleeson from the start of next year.
Dermot Gleeson, chairman, said: “We are delighted to have secured Graham Prothero as the group’s next CEO.
“His outstanding track record and experience in house building make him the ideal choice to lead the group in the next phase of its development.
“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.”
Vistry said it would not be appointing a new COO and with effect from October Prothero’s responsibilities would be spread across members of the executive.
Graham Prothero, CEO-designate, said: “I am very much looking forward to taking up my new role at MJ Gleeson.
“I have watched the company’s progress over the years and long admired the delivery of its focused strategy.
“It is rare to find a business that genuinely enhances people’s well-being in the way that Gleeson does. ”