York-based house building giant Persimmon plc said on Monday that its finance director Mike Killoran has informed the board that he intends to retire in early 2022 after 25 years with the group.

“It is expected that Mike will step down from the board in mid-January after the announcement of the trading update for FY21,” said Persimmon.

Persimmon chairman Roger Devlin said: “Mike has played a pivotal role in the development of Persimmon over more than a quarter of a century, helping establish the business as one of the leading housebuilders in the UK and delivering outstanding returns for shareholders.

“We thank him for his significant contribution to the success of the group over this extended period and he leaves Persimmon in robust financial health.

“We will now commence the process of identifying Mike’s successor and we are pleased to be retaining his skills and experience within the business during this period to ensure a smooth handover.”