Clive Fenton will replace Mark Elliott, who leaves McCarthy & Stone in February, having completed the successful £527m refinancing of the firm last August by bringing on board new shareholders.

Fenton will join McCarthy & Stone midway through next month and brings a wealth of house building and commercial experience, having spent almost 30 years with Barratt Developments.

He joined Barratt in 1983 and worked in a number of finance and operational roles before being appointed to the main group board in 2003, with overall responsibility for all operations in the south of England.

He was also responsible for Barratt strategic land and its group partnership housing and retirement homes divisions.

Fenton said: “I have witnessed McCarthy & Stone becoming one of the UK’s leading house-builders and their adept specialisation in age-defined developments.

“Following the company’s successful refinancing last year, and an impressive set of figures, we have a solid platform to quickly grow the business further.”

In the latest financial year, McCarthy & Stone reported a 21% growth in revenue to £311m and posted a 15% rise in profits to £46m.

Chairman, John White, said: “Clive has both extensive knowledge of all aspects of the house-building industry and a successful track record. His appointment is key to our growth strategy which seeks to fulfill the opportunity presented by a burgeoning market for retirement apartments.”