Persimmon poaches National Express boss as new chief executive

House-building giant Persimmon has named National Express boss Dean Finch as its new chief executive.

Mr Finch, who has been CEO of National Express since 2010, is set to take up the role at the end of the year.

He replaces David Jenkinson, who announced plans to step down in February after just over a year as chief executive.

National Express said it has kicked off the search for a successor for Mr Finch, who plans to leave towards the end of the year or when a replacement is appointed.

Persimmon chairman Roger Devlin said Mr Finch is seen as a “great fit” for the company.

He added: “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.”

Mr Finch, 53, will be paid a basic salary of £725,000, with pension and benefits on top, plus a potential bonus of up to 200% of salary and possible long-term share awards of up to 200%.

He will also receive shares to compensate for some of the remuneration he is giving up at National Express.

Mr Finch said: “Persimmon is a strong business operating in a sector that has a critical role to play for both the people and the economy of the UK as we emerge from the profound disruption of Covid-19.

“I look forward to leading the business in its drive to become Britain’s best house-builder and delivering for all stakeholders in the business whilst continuing to deliver strong financial returns to investors.”

Before National Express, Mr Finch was group chief executive of Tube Lines and group finance director and group chief operating officer at transport giant First Group, where he also held a number of other senior roles.