Howard Russell Construction, which employs 33 staff from its office at Apex Business Village in Cramlington, was established in 1997 by David Varty and Joe Prouse, with Ian Goss joining them in 2003 as commercial director.
After 20 years at the helm, Joe Prouse is retiring and David Varty is taking on the role of managing director following a share repurchase.
The new board includes Ian Goss as chairman, Craig Muldoon as technical and sales director, Barry Wilkinson as contracts director and Andrea Styles as company secretary.
The firm is targeting a turnover of £26m for the current financial year after securing a number of major contracts outside of the northeast region, including a £5.1m development of nine industrial units in Enfield for Chancerygate.
In Buckinghamshire, Howard Russell is undertaking a £5.5m project for lifting equipment specialist GGR Group, and it is also developing nine industrial units in Cambridge for property investment management firm Rockspring.
Closer to home, in Teesside, the firm is developing a new £5.5m industrial property for Dutch lifting contractor Mammoet on behalf of UK Land Estates.
Ian Goss said: “Joe and David built the business on a shared ethos of trust, quality and pride, which has undoubtedly helped us to get to where we are today. With a strong new board of directors and a great team, we are optimistic for the future of the business.”