A leading North East property, leisure and care company is strengthening its boardroom with the appointment of one of the region’s most senior and respected accountants.
Newcastle-based Malhotra Group PLC, which owns some of Tyneside’s most popular hotels, bars and restaurants, along with a large care business trading under its Prestwick Care brand, has recruited David Elliott to the position of Chief Finance Officer.
David, a prominent financial accountant and tax specialist of some 35 years, is due to leave the office of KPMG in Newcastle at the end of April where he has held the position of Senior Partner since March 2017.
From 2008 he led the tax practice there and, prior to that, was Tax Director with PwC for 17 years.
David is due to take up his position at Malhotra Group on 1 May to coincide with the departure of the Group’s current Group Finance Director, Andrew McColl.
He joins the Group at a time of considerable growth, as it looks to complement its UK commercial interests with a major residential and leisure development in the Punjab region of India.
The £150m scheme at Ludhiana, will create housing, a 550,000 sq ft shopping mall with national and international retail outlets and restaurants, a hotel, sports centre and a multiplex cinema and represents one of the largest investments in the company’s 40-year history.
Welcoming David, Meenu Malhotra, Group Chairman of Malhotra Group PLC, said: “on behalf of our family and company I am absolutely delighted that David has agreed to join us at boardroom level, especially at a time of great excitement for the Group with expansion happening both in the UK and India.
“His experience and expertise will be invaluable to the company’s affairs and to me personally, as we continue with our strategic growth plans.”
Following his appointment, David said: “I am thoroughly looking forward to joining the Board of Malhotra Group PLC following my retirement from KPMG.
“To be able to work for one of the region’s largest and most dynamic family-owned businesses is a fantastic opportunity for me.
“Meenu and his colleagues have built up a diverse group with extremely high-quality businesses and assets and the opportunity to become part of this successful company is incredibly exciting.”