Thorntons names Lesley Larg as next managing partner

Lesley Larg is to be Thorntons' next managing partner, when Craig Nicol steps down at the end of May.

The Tayside-headquartered firm made the announcement at the same time as unveiling results that showed it managed two grow both revenue and profit in the year to 31 May 2020, despite the COVID-19 lockdown.

Turnover rose by 2.6% from £29.8m to £30.5m, while profit was up 12% from £7.1m to £8m.

Mr Nicol has been in post as managing partner for 10 years, seven of them jointly with Scott Milne. He said the time was right to hand over, as the firm was now considering its next five-year strategic plan, "and how best to deliver for the changing requirements of our clients and colleagues in the post-COVID environment".

He added: "I am delighted to be handing over the reins to Lesley who has the skill, drive and expertise to lead the firm through this next period."

An intellectual property partner at Thorntons, Ms Larg has been a member of the' board for several years.

On the firm's results, Mr Nicol said trading had been "significantly impaired" by COVID-19, but an increased commercial offering and the staff taken on from the former firm of Morisons had helped achieve growth.

The practice was currently "lagging behind" last year's performance, but was optimistic about 2021.