Having previously been the company's Chief Financial Officer, Mr Allen was appointed Acting Chief Executive in November 2017. He will assume his new role with immediate effect today, 16 April.
Before joining Wates, he spent seven years as Crossrail's Finance Director. Prior to this, he was Finance Director of Laing O'Rourke's European Construction business.
Group Chairman, James Wates CBE, said: "On behalf of the Board, I am delighted to confirm today's appointment, which is the outcome of a rigorous executive search process. Our aim was always to find the very best candidate, either from within our talented senior management team or from outside Wates. We are particularly pleased to be able to confirm David in this key leadership role, as it evidences our strength in depth at executive level.
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"David has shown an acute understanding of what it means to lead this very special family-owned business and I look forward to continuing to work with him as we progress through the next phase of the company's history."
Speaking on his new appointment, Mr Allen added: "I'm excited about leading the next stage of Wates' push to become an even more high performing, progressive and sustainable organisation that continues to deliver for, and is trusted by, all of our customers and partners."
(LM)
