Mace has announced that Stephen Pycroft, Mace Group Chair, will be standing down from his role on 1 January 2022.

Mark Reynolds, Group Chief Executive, will take up a new role as joint Chair and Group Chief Executive of the business. Stephen will continue to sit on the Mace Board and will remain a major shareholder of the business.

Stephen joined Mace in 1993 and was appointed to the Board in 1995. He became Chief Executive in 2004. Over Stephen's tenure as both Chief Executive and Chair, the business has transformed itself into a leading global consultancy and construction company, delivering some of the world’s most iconic and transformational projects and programmes.

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That legacy of growth – from £90m of annual revenue when Stephen led the management buy-out of Mace in 2001 to more than £2bn in 2018 – could not have been achieved without his ambitious vision for the company and his support of the broader Mace executive leadership team.

The managed transition to Chair and Group Chief Executive for Mark Reynolds marks the next step forward in the broader corporate leadership strategy for the business, following the creation of four new CEO roles for each of Mace's Engines for Growth in 2019.

Mr Pycroft said: "Over the past three decades I have been extraordinarily proud to lead and watch Mace grow, whilst we continued to challenge convention and find better ways to deliver for our clients. We have helped to shape cities and redefine our industry – and we’ve been able to do so because we’ve been privileged to work with some of the best colleagues and clients in the world.

"Our people and their commitment to doing things differently continue to inspire and impress me every day, and – although I am stepping down as Chair – I will continue to support the Executive Board in my new role."