Newcastle-based housebuilder Bellway plc said on Tuesday group finance director Keith Adey will step down after more than 15 years with the company.

Adey, who will also leave the company’s board, intends to retire from full-time executive work once a successor has been appointed.

Bellway said it will undertake a thorough recruitment process and expects to appoint a successor early next year.

Bellway also said Simon Scougall will be appointed to join the board in the newly created executive role of chief commercial officer on August 1.

Scougall has held a number of senior positions within Bellway for over 13 years and is currently the group general counsel and company secretary and a member of the group executive committee.