The chairman and managing director of Shropshire estate agents, chartered surveyors, auctioneers and valuers is to step down.
Peter Willcock will retire from his dual role at Halls Holdings Limited in Shrewsbury from September 30 but will continue to work for the company as a consultant.
Mr Willcock, who lives in Bishop's Castle, has worked for the company for 38 years, having led the company as chairman and managing director for the last 26.
His successor as managing director will be David Giles while the new chairman will be Allen Gittins. Both appointments begin on October 1.
Mr Willcock said: “I have thoroughly enjoyed being chairman and managing director of Halls but it’s time for a change and I have always believed in a retirement policy.
"I genuinely believe that businesses need reinvigorating from time to time and younger people should be given an opportunity to acquire shares.
“When I started with the company, there were only five shareholders but today we have 14 and the areas of responsibility for running the business have become much greater because of the legislative requirements and the fact that we have expanded from our core business."
He added: “The future for Halls looks great and I anticipate that the business will continue to go from strength to strength because we employ a lot of very good people, but there has to be room for young people to come through with new ideas.
“I will continue to handle land management work, support the livestock markets in Shrewsbury and Bishops Castle and contribute the best way I can going forward.”
Halls has nine offices across Shropshire, Worcestershire and Mid Wales.
Another appointment sees Daniel Lovatt, who runs the company’s Kidderminster office, join the management board from July 1.
Mr Willcock, who will be 65 in October, joined the company as a partnership of Hall, Wateridge and Owen in 1979 and became the youngest partner in 1982.
The business was sold to General Accident and he became a member of the GA’s regional board for property services.
In March 1991, he organised a management buyout of the business from General Accident with a team of directors including Mr Giles and Mr Gittins and the new Halls brand was formed. The new business also included General Accident’s Kidderminster office.
Under Mr Willcock’s leadership, the core business has grown to include fine art, commercial property and residential lettings departments.
Outside his work, Mr Willcock played rugby for Bishops Castle well into his 40s and still enjoys golf and shooting.Subscribe to our Newsletter