The chief executive of transport group National Express is stepping down from the post after more than a decade to join housebuilder Persimmon.
Dean Finch will leave the listed group towards the end of the year or when a successor is appointed, Birmingham-based National Express said in a statement to the London Stock Exchange today.
It added that a further announcement would be made once a leaving date had been agreed and the board had already commenced a search for his successor.
He will replace Dave Jenkinson at York-based Persimmon after he announced in February that he was leaving the role only 15 months after his appointment.
Mr Jenkinson was appointed in the wake of a row involving a £75 million bonus paid to his predecessor Jeff Fairburn and has had to deal with an independent review published late last year which poured scorn on the quality of the company’s housebuilding and highlighted fire risks in its properties.
National Express chairman Sir John Armitt said: "We would like to thank Dean for his enormous contribution to National Express.
"During his time as chief executive, he has transformed the business into a leading international transport group, with significant growth potential in all our main markets and a strong and effective management team at all levels.
"Recently, he has expertly guided us through the challenge of covid-19. Dean has the best wishes of all of us at National Express for his next challenge."
Most Read
Mr Finch added: "It has been a great privilege to be chief executive of National Express. I have developed a great affection for the company and my outstanding colleagues there.
"I believe I will leave National Express in both a strong position to continue to weather the effects of covid-19 and well placed to secure significant growth opportunities once we emerge from this crisis.
"I have learned a lot from the many immensely skilled colleagues in the business and believe they are a very effective team who will continue to grasp these opportunities and maintain National Express' leadership position."
Persimmon's chairman Roger Devlin said: "Dean is a seasoned, well-respected and proven chief executive with an exceptional record.
"In his current role, he has delivered substantial strategic and operational progress over a sustained period, delivering value for all stakeholders in the business while developing a distinct and cohesive culture, focused on customer care and service.
"I would also like to thank Dave Jenkinson for his outstanding contribution to Persimmon over many years and particularly for his decisive leadership during the covid-19 outbreak."