Duncan Bannatyne has rewarded the senior management team which helped his health club chain navigate a tricky 2015 with a series of promotions.

Last year saw the jailing of former finance director Christopher Watson for defrauding The Bannatyne Group out of nearly £8m – an experience that left Bannatyne feeling ‘betrayed’. During this time, the revamped top team has worked hard to move the operator forward and redefine its brand as a premium proposition.

Leading this initiative has been Bannatyne Group managing director Justin Musgrove, who has been promoted to the role of CEO for his efforts.

Meanwhile, finance director Ken Campling has also been commended for his work balancing the books, being given the new role of chief financial officer and a seat on the company board.

Completing the shake-up, Anthony Elliott has been named director of operations, responsible for day-to-day operations across the company’s health club, spa and hotel businesses. Elliott has recently been overseeing the Bannatyne gym refurbishment programme and has also played a significant role in the group’s recent acquisitions as it seeks to expand.

In addition to Musgrove, Campling and Elliott, chair Duncan Bannatyne, director of estates & facilities Steve Hancock, plus legal counsel & director Ed James complete The Bannatyne Group senior management team.

“There is a new senior management team at the Bannatyne Group and we work together exceptionally well, as can be attested by increasing member numbers and ever-growing customer demand for the health clubs, spas and hotels,” said Musgrove.

“Ken is well versed in the consumer sector and has an excellent track record of delivering profits, managing acquisitions and growth and streamlining and improving accounting systems.

“He has been an excellent addition to the senior team at the Bannatyne Group and I welcome him as a Board member.

Musgrove added: “Anthony has made a significant contribution to the business over the last five years. The major investment in our gyms has been well received by members and Anthony’s drive and commitment has been key to the success of this important project.”