Persimmon hires National Express's Finch as CEO

Finch is expected to join the FTSE 100 company at the end of 2020 after more than 10 years in charge at National Express.

Persimmon has appointed a candidate from outside the building sector as it seeks to repair its corporate reputation during a deep recession and continued disruption from the Covid-19 crisis.

Persimmon said Finch, 53, has wide experience and a strong management record over 30 years. Before running National Express he was CEO of Tube Lines, which maintained the London Underground before being bought by Transport for London in 2010. He was finance chief and chief operating officer at transport company First Group before Tube Lines.

Roger Devlin, Persimmon's chairman, said: "Dean is a seasoned, well-respected and proven chief executive with an exceptional record. Dean is a great fit for Persimmon and is well qualified to lead the business into the next phase as we continue to drive a programme of change."

Jenkinson announced his departure in February after just 15 months as Persimmon's CEO following a damning review of the quality of its homes. The Persimmon veteran took over from Jeff Fairburn who was ousted in November 2018 after MPs and governance experts attacked a £75m bonus built up in an uncapped incentive plan.

National Express said it had started looking for a new CEO and that Finch would leave towards the end of the year or when a replacement was appointed.