Copyright scotsman
Business expert Calum Paterson has been appointed as Hearts’ new chairman, with Ann Budge handed the title of honorary president. The Tynecastle club have announced a board restructure, with Ralph Findlay OBE has joined as an independent non-executive director to replace the outgoing Kevin Windram. Hearts revealed earlier this year that Budge would step down as chair and in a lengthy statement, they explained the alterations within the Gorgie board room. “Following Ann Budge’s decision to step down from her role as Chairman at this year’s AGM, the club’s Nominations Committee undertook a thorough recruitment process to identify her successor,” it read. “This week, the Board formally approved the appointment of Calum Paterson as the club’s new Non-Executive Chairman, subject to formal ratification by shareholders at the AGM in December. “A renowned business leader in Scotland, Calum co-founded the investment firm Scottish Equity Partners (SEP) in 2000, where he served as Managing Partner for 25 years, before transitioning recently to the role of Chairman & Senior Partner. SEP is a leading growth equity investor in innovative software and technology businesses across the UK and Europe, playing a pivotal role in the success of global companies such as Skyscanner, where Calum was a member of the Board of Directors. “Calum was born in Edinburgh and brought up in Linlithgow. He is a member of the Institute of Chartered Accountants of Scotland, a Fellow of the Royal Society of Edinburgh, and holds BA and MBA degrees from the University of Strathclyde. He is a former Chair of the BVCA, the industry body and public policy advocate for private equity and venture capital in the UK. “The club's board of directors has unanimously voted to appoint Ann Budge as the club's Honorary President. The club’s board of directors is delighted to bestow this honour on Ann in recognition of both, the immense role she played in rescuing the club from financial ruin and guiding it to a position of financial stability, and also, the pivotal role she played in setting up the current exciting new phase in the club’s development. “Ann will become the club’s Honorary President following the December AGM, when she will stand down from her role as club chairman, a role she has filled with distinction for more than 11 years, initially in an Executive capacity and for the last two years in a Non-Executive capacity. “Ann’s significant minority shareholding in the club entitles her to retain a seat on the Board, either personally or through a nominee. Ann has decided not to exercise this right given the confidence she has in the newly constructed Board to deliver success.” On his appointment, Paterson said: “It is a great honour for me to be asked to take on the role of Chairman at Heart of Midlothian, and to succeed Ann Budge who, through her exceptional dedication, commitment and leadership, has made an incredible contribution to the club’s illustrious history. “These are clearly exciting times for the club. I share the ambition of the Board, the Foundation, our key stakeholders, and all our supporters for Hearts to fulfil their huge potential and to be the very best they can be. I look forward to doing everything I can to help on that journey, and to ensuring the club maintains and strengthens its commitment to the highest possible standards in everything it does.” Budge said: “I thank the Board for this touching recognition. I am proud of what we have managed to achieve at the club over the past 11 years and although the time is right for me to take a step back, I am excited, as a Hearts supporter, to see what the future holds.” Chief Executive Andrew McKinlay said; “Everyone connected to Hearts owes Ann a great deal of thanks and gratitude for what she has done for the club. Therefore, it felt only right that we should honour her in an appropriate manner, and we are delighted that she has accepted the title of Honorary President. “Through her body of work, Ann has spent more than a decade writing herself into Hearts’ history books and now we can add another chapter, and an entirely deserved one at that.”
