Building firm chief steps down

John Beal, 71, announced that he was retiring as chairman of Beal Holdings, the house builder he established with his late brother Raymond.

The brothers started Beal Homes in 1968 with a first development of two houses and a shop in Hedon, near Hull.

Mr Beal is retiring from the boards of house building companies Beal Developments and Eastman Securities.

His interests in these companies have been divested betweenhis son Richard Beal and a trust.

John Beal said: "It has been extremely satisfying that Beal Homes has not only survived the recent recession but has thrived, expanded its operational base and maintained profitability.

"This shows the strength of the management team."

Mr Beal has taken on the role of non-executive chairman of Beal Securities. He will continue as chairman and director of Yorkshire & Lincolnshire Developments, the Beal family property investment company. He remains a director of Hull RUFC, the rugby union club, and Hull Sports Centre.

Richard Beal, who became managing director of Beal Holdings in 1997, takes on the joint role of chairman and managing director.

A company spokesman said turnover halved in the past year but the group still recorded a satisfactory net profit.