McCarthy & Stone, developer of retirement communities including Llanthony Place at Gloucester Docks, has announced Rowan Baker will step down as chief financial officer (CFO).

After leaving her post, she will become CFO of multinational construction company Laing O'Rourke.

The business also confirmed that Martin Abell will join the business as new CFO on May 26. Martin most recently held the position of CFO at Clinigen Group plc, the pharmaceutical and services company, and prior to that was the finance director (Europe and Rest of World division) for Hays plc, the FTSE 250 professional recruitment company.

Ms Baker joined McCarthy & Stone in 2012 and was appointed to the Board in January 2017. The business said that she played a key role in the Company's IPO and in developing and delivering the Company's new strategy, as well as driving several transformation initiatives.

John Tonkiss, chief executive officer, said: "On behalf of the Board, I would like to thank Rowan for her huge contribution over the past eight years. Personally, I am extremely grateful for her guidance and support, particularly since she took on the role as CFO, and we wish her the very best with her new position.

"I am also pleased to welcome Martin to the Company. His commercial and public company experience will be of huge benefit and I look forward to working with him."