Leeds Building Society CEO Richard Fearon said he is taking a temporary break from the mutually-owned business so he can “prioritise family time and making the most of a new baby due in October.”
Annette Barnes, the Senior Independent Director at the Society, who has served on the board since 2019, will act as the Interim CEO, subject to regulatory approval.
In April this year, Leeds Building Society said it was searching for a new chief financial officer after current CFO Andy Conroy announced he “will now be seeking his next career challenge.”
In February, the Society said its total savings balances reached a record of £24.5 billion in 2024, over 18% higher than 2023.
Before joining the Leeds Building Society board, Interim CEO Barnes was CEO at Lloyds Bank Private Banking Ltd and a Managing Director within Lloyds Banking Group.
She has more than 35 years’ experience in financial services and has a background in operations, technology and customer engagement.
Leeds Building Society Chair Brendan McCafferty said: “I and the Board are fully supportive of Richard and look forward to his return. Annette has a huge amount of experience and leadership capability well suited to this temporary role.
“We have a brilliant leadership team at the Society and they will continue to deliver for our members while Richard is out of the business.”
Fearon said: “I’m taking a temporary break so I can prioritise family time and making the most of a new baby due in October.
“I am fully committed to Leeds Building Society and I’m very grateful to Brendan and the Board for their support.
“Annette is a highly capable leader who cares deeply about the Society, its members, and its colleagues. I’m confident that she will do an exceptional job.”
Barnes said: “I and all of the Board members give Richard our full support. I’m very pleased to help the Society by taking on his CEO role on an interim basis.
“I look forward to working more closely with colleagues across the business in the coming months as we continue to deliver on our purpose and strategy.”