Heart of Midlothian FC has named Calum Paterson as non-executive chairman as part of a boardroom restructure at Tynecastle.
Edinburgh-born Mr Paterson, who co-founded the investment firm Scottish Equity Partners (SEP) in 2000 and now serves as its chairman and senior partner, replaces the outgoing Ann Budge who has been appointed as the club’s honorary president.
The shake-up will also see non-executive director Kevin Windram stand down from his position at the AGM in December.
Mr Paterson, who is a former chair of the BVCA, the industry body and public policy advocate for private equity and venture capital in the UK, 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.”
A club statement said: “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.
“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.
“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.”
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