The Heart of Midlothian Board of Directors is pleased to share with supporters the following updates.
Appointment of New Chairman
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.
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.
Calum 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.”
Ann Budge
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 2 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.
Ann 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 Officer 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.”
Board Departure
The Board can also confirm that Non-Executive Director Kevin Windram will stand down from his position at the AGM in December. Kevin joined the Board 11 years ago and has provided invaluable financial expertise and trusted guidance over this time.
We would like to thank Kevin for his service and commitment to helping Hearts strengthen over this period.
Kevin said; “I’d like to thank my fellow Board members, past and present, and everyone at Hearts for allowing me to be part of one of Scottish football’s great success stories. In particular, I’d also like to thank Ann Budge, as she too steps down, for her leadership, support and friendship over many years.
“Since Ann asked me to join her first Board in 2014, I have always tried to provide helpful advice and supportive challenge to both the Board and Executive team, with a focus on making all areas of the club the best they can be. It has been an absolute privilege to represent Heart of Midlothian during this period and I have always felt extremely honoured and grateful to have been given the opportunity to do so.
"From where we started 11 years ago to where the club is now elicits a great sense of collective pride. I wish the new Board every success going forward and I am looking forward to continuing my support of both the club and the team back in my original season ticket seat in the Gorgie Stand beside my family.”
New Non-Executive Director
With Kevin standing down in December, the Board has approved the appointment of Ralph Findlay OBE as an independent Non-Executive Director, subject to formal ratification by shareholders at the AGM. Ralph will also take up the role of Chair of the Board’s Audit Committee.
Ralph is the Non-Executive Chair of C&C Group PLC, a leading premium drinks company which owns, manufactures, markets and distributes a unique portfolio of drinks brands across the globe.
He was Chief Executive Officer of Marston’s PLC, the UK pub group for 20 years, having previously served as Marston's Finance Director. Ralph has also held Non-Executive positions as Chair of Vistry PLC, a leading UK Housebuilder, Chair of Keele University, and Chair of the British Beer and Pub Association. Ralph was awarded an OBE for services to hospitality in 2023.
Ralph said; “I am hugely excited to have the opportunity to join the Board of this great football club.
“Hearts is a progressive club and one that has exciting plans for a new era. To be part of that journey is a privilege, and I will do my very best to ensure that success and Hearts go hand in hand.”
Foundation of Hearts
Gerry Mallon, Chair of the Foundation of Hearts said; “On behalf of the Foundation of Hearts, I am delighted to welcome Calum Paterson as the new Chairman of Heart of Midlothian Football Club and Ralph Findlay as a new Non-Executive Director on the club board. We look forward to working closely with them both as the club continues to build on its strong foundations and ambitious future.
“I would also like to take this opportunity to offer our warmest congratulations to Ann Budge on being named Honorary President of Heart of Midlothian FC. Ann’s leadership, commitment, and vision have been instrumental in securing the club’s remarkable journey from fan ownership to stability and success. This recognition is richly deserved, and we are very pleased to see her continued association with the club in this honorary role.”
