A 12-month handover process to the third generation of the family will result in the retirement of chairman Richard Higgins and his brother, group director, Martin Higgins in July 2024, when they will be 68 and 64 respectively.
Higgins was founded in 1961 by their father Derek Higgins.
In August 2023, Declan Higgins will become chief executive officer at the age of 32. His brother Dominic Higgins will become chief operating officer at just 29. Their elder cousin, William Higgins (38 by then), will become group executive director.
Declan and Dominic are sons of Richard; William’s father is Martin.
The company said that Declan Higgins will lead on group strategy, policy, social initiatives, and all major joint venture, build to rent and development partnerships.
Dominic Higgins will be responsible for the execution of group strategy, operational efficiencies, risk management, ESG and net zero targets.
William Higgins will lead on the land acquisition, strategic options, sales & marketing of Higgins Homes and joint venture schemes.
Alongside them will be finance director Mark Francis and Higgins Partnerships managing director Steve Leakey, who stay in post through the power transfer.
It is not just the elder Higgins who are clearing their desks. A round of redundancies is being planned because of a slowdown in project starts.
Chairman Richard Higgins explained: “The industry has experienced volatile market conditions in recent years and the new requirement for secondary staircases has resulted in a number of schemes being delayed. We are positioning ourselves to ensure we are both efficient and versatile to take advantage of future opportunities. We will support our staff through this period.”
The restructuring into regions is designed to improve operational efficiencies and provide a platform for growth, the company said.
Declan Higgins, the future chief executive, said: “The business has ambitious targets for the next decade, focusing on growth, ESG, employee development and becoming net zero. In order to achieve our targets, it is essential we are operating as efficiently as possible. We understand a proposal to streamline our structure and reduce roles across the group creates an uncertain time for all our staff and we will continue to support everyone as we move the business forward.”
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