Ms Campbell leads Henderson Loggie’s business recovery and insolvency team and has 25 years’ experience advising businesses across Scotland. She is also convener of the ICAS insolvency committee, which oversees industry standards and liaises with the Westminster and Scottish parliaments on proposed changes to legislation.

Commenting on the end of his chairmanship, Mr Davis said: “I’m very lucky and proud to have been involved in the leadership of the firm over the last eight years, which has seen a period of significant change both in the firm and in the markets that we operate in.

“As well as the significant growth achieved during that time, I’m particularly proud of the HL Training Academy that we have created and being recognised as the Exemplary Employer of Choice in Scotland.”

Henderson Loggie’s managing partner David Smith said: “We are extremely proud of what the firm has achieved during Alan’s tenure as chair. Shona’s appointment underlines Henderson Loggie’s continued commitment to supporting SMEs and fostering growth in the Scottish economy.

“We are excited for the opportunities we see ahead of us as an independent firm as a result of technological advancements and the disrupted accountancy sector in Scotland.

“Shona is a proven leader and very well respected in the Scottish business community. Our board and partners look forward to the energy and collaborative approach she will bring as we progress with the next phase of our growth plans.

“She works hand-in-hand with our clients at some of their most difficult times and can sympathise with their experiences. Her expertise will be invaluable in helping us continue to deliver on our strategy and ambitions as we continue to grow”.

Ms Campbell said: “I’m honoured and delighted to assume the role as chair. We are a people business and I want our people to feel proud that they work for Henderson Loggie and that we can help them achieve their potential. Excellent client service is the key to our sustained success.

“There is growing emphasis on digital transformation and sustainability and I’m excited about providing the stewardship to ensure that we are well positioned to navigate these changes and continue to provide top-tier services to our clients.

“The advent of AI and wider fast paced technology developments are freeing up time for our people to provide clients with more valuable analytical data to enhance business performance. We will continue to adapt to ensure we bring the value our clients need.”