McCarthy & Stone has announced that CEO Mark Elliott, who oversaw the company's successful £527 million refinancing, will leave the company at the end of February 2014.

In the latest financial year ending 31 August, Mr Elliott led the company to a 21 per cent growth in revenue to £310.8 million and posted a 15 per cent increase in EBITDA to £46 million. The refinancing, which successfully brought on board new shareholders, was announced on 20 August 2013.

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Chairman, John White, commented: "Mark will be leaving the business well-financed and in a strong position to take advantage of a significant market opportunity in the retirement housing sector. The shareholders and directors thank him for all of his efforts and acknowledge his role in moving the business forward."

(CD/IT)