The Glendale Gateway Trust has appointed Tom Johnston as chief executive with immediate effect.
The decision follows a restructuring of the staff which led to two posts being merged into one.
The jobs of the trust director and the asset development manager have both disappeared, with a new post of chief executive created.
“This has been a difficult period for both staff and trustees,” said Frank Mansfield, trust chairman.
“But we got through it with goodwill on all sides, and I’m delighted that Tom has agreed to take on this demanding role.”
He added: “The restructuring will mean significant changes for both staff and trustees, but I know both are up for this task.”
The decision has been taken not because of any immediate financial problem, but because the current economic and political climate is making it very difficult for the trust to take on significant new projects.
Mr Mansfield explained that staff and trustees recognised the trust was overstaffed at a senior level, given it has no current major projects on the go.
The decision will help the trust to run efficiently and effectively over the next few years, although financially speaking it is one of the strongest development trusts in the region.
“With our income and our reserves we could keep going as we are for many years to come,” Mr Mansfield revealed last month.
Trustees also recognised a need to put more aside each year for long-term investment in, and maintenance of, its portfolio of properties, which includes affordable homes for rent.
They therefore decided that the staffing issues needed to be faced, and sooner rather than later.
The trust’s agm is next Wednesday (July 20) at 7pm (exhibition from 6.30pm) in the Cheviot Centre. All welcome (especially members). Light refreshments provided.