Cavanna Group announces 20 year succession plan
5th May 2010 
The West Country’s largest independent house builder Cavanna Homes – a third generation family business – has announced a succession plan to provide the company with a robust framework for the future that continues to follow the family ethos.
Managing Director Jeremy Cavanna who is one of the third generation of Cavanna’s who manage the Torquay based company, established by their grandfather Philip in 1923, has become Chairman of the Cavanna Group. This follows the recent retirement of Patrick Cavanna, his uncle, who joined the business in 1947.
Jeremy Cavanna, 54, has now begun a phased handover of his MD responsibilities to the company’s former Finance Director Eugene Rapson who has been appointed Operations Director and is now in charge of all projects while Jeremy Cavanna continues to retain overall responsibility for land acquisition and planning.
Eugene Rapson has been with the Cavanna Group for the past ten years and became the first non-family Financial Director in the company’s 87 year history. He will take up the role of Managing Director at a later date. A new Financial Controller is currently being appointed.
Cavanna Homes, which currently has a total of six sites in development in Devon, Somerset and Dorset - The Salterns at Bideford, Millbrook Mews at Milborne Port near Sherborne, Foundry Mews at Tavistock, The Green at Bere Alston, the final phase of Evolve at Torquay and the first phase of Cobham Field at Plymouth Airport - recorded 2009 as its second most successful year ever for house sales, in spite of the recession and a challenging climate for house building.
After announcing the plans to shareholders and staff, Jeremy Cavanna said; “We have just embarked on a 15 year development near Plymouth Airport on the site of the disused second runway and it made us clearly focus on producing a succession plan for the next 20 years that will provide, not only stability, but further growth and success for the company well into the future.
“As we don’t have a fourth generation of Cavanna’s to manage the business we had to develop a plan that would enable our excellent staff to take a step forward and grow the company while keeping the tried, tested and proven family ethos at the heart of everything we do. As shareholders, the family remain committed to ensuring that the company both grows and retains its family ethos.
Commenting on Eugene Rapson’s appointment Jeremy Cavanna said; ““In Eugene we have someone who understands the industry, shares our values and has won the confidence of the family and the support of the staff. With Eugene at the helm, the Cavanna Group will be driven forward in the way our Grandparents would have been proud of.”
This is the start of a process that will see the current family directors pass over day to day decision making so that they can continue to concentrate on the strategic direction of the company.
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