David Ritchie has resigned as chief executive of Bovis Homes with immediate effect.
The announcement follows the company’s profit warning because it failed to complete the number of homes it expected at the end of 2016.
Earl Sibley, the group’s finance director, has been appointed as interim chief executive and will immediately initiate a process to appoint a permanent successor.
The company said the process was expected to take several months.
Ritchie said: “It has been a privilege to serve Bovis Homes as its chief executive over the last eight years as the group has doubled in size and delivered record profits. I believe now is the right time for someone new to lead the group into its next phase of development. I have spent over 18 years working for this great company and I wish Bovis Homes every success in the future.”
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