The chief executive of H&H Group is stepping down after 10 years at the helm.

Brian Richardson announced yesterday that he will be leaving the Carlisle-headquartered group - owners of the city's Borderway Mart - later in the year.

He said: "“I am leaving H&H after 10 years to take up a new challenge. At 57 it is the right time to do this and the business is in very good shape to handle this and look forward to the next 10 years of growth.

"I go with the blessing of my Board, thus being around until the end of the year and H&H is one of the success stories in Cumbria.”After 10 years as chief executive, I feel that this is an appropriate time to hand over the baton to someone new.

"Since joining, the company has developed considerably, and over the 10 years the net assets of the business have increased by 60 per cent and the share price over 150 cent."

H&H employs over 290 members of staff at its seven operating companies in 19 locations across the North of England and Southern Scotland.

It is creating a £5 million development opposite the Borderway Mart at Rosehill in Carlisle, including a new food hall for Pioneer Food Services, 22,000 sq ft of business units and car parking, due to open this summer.

Mr Richardson said: "The last three years have been exceptionally busy with the acquisition of the John Swan & Son marts at Wooler and Newtown St Boswells, as well as developing the group’s property assets.

"A major part of this programme has been the H&H development at Rosehill in Carlisle.

“I am also very proud of what everyone at H&H and across all of our operating companies has achieved in the last 10 years.

"The business is in excellent health, and in a position to continue to prosper, develop and withstand the immediate challenges of a slow economy and the longer-term implications of Brexit.

“We have a fantastic team of people at H&H and our success is as a direct result of the way everyone has worked together and I am very confident they will go forward to further grow and develop the business, albeit under a new leader.

"In the meantime, it is very much business as usual. I still have a lot to do before I hand over the reins later in the year."

H&H said it would now start the recruitment process for Mr Richardson's successor.

Chairman Ian Lancaster said: "Brian has led the H&H Group professionally and with great drive and enthusiasm over the last 10 years.

"The business has grown and evolved, and we have a strong financial position. I would like to take this opportunity to thank Brian for his support and to wish him well in the future.

We will now be embarking on recruiting a replacement to build on our strong position, and care will be taken to make sure we have a good fit for the role of leading one of Cumbria’s principal businesses."