Fitzgerald, 52, bought 134,369 shares at around £9.26 in a move that will be seen as a big vote of confidence in the embattled south east house builder.

His wife Judith Fitzgerald made a more modest investment of £145,590, getting a better deal of 15,825 shares at £9.20.

Construction industry veteran Fitzgerald started work at Bovis last week on a £650,000 salary, with an annual  bonus package of up to double this figure based on leadership of the review of strategy and structure.

His package also includes a long term incentive plan of up to 200% of salary for each of the first two years.

Fitzgerald, who spent 35 years at Galliford Try, said: “Bovis has a great brand, excellent people and a high quality land bank.

“I very much look forward to working with the management team to restore Bovis’ position as a leading house builder and deliver significantly improved returns to shareholders.”