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His departure was introduced to employees this early morning.
Philip Wainwright, chief money officer, will develop into interim CEO pending the appointment of a lasting successor.
Allen joined the Wates Group in January 2016 and has been CEO of the £1.2bn turnover business enterprise given that April 2018.
Just a couple of months ago Allen disclosed that Wates, now in its 125th 12 months, experienced attained its optimum-at any time working financial gain of £40m immediately after a bumper 12 months of orders.
Chairman Sir James Wates reported: “During his time as our CEO, David’s intelligence, dedication, and compassion has stood the organisation in great stead and in unique ensured that the Wates Team properly responded to the troubles of the pandemic.
“The board many thanks David for his contributions and wishes him the quite greatest for the long run.”
He added: “We have an superb administration team in area, and we have the right prolonged-time period method – equally to consider edge of market place chances as properly as to meet our objective of handing above to the next technology of family members possession a more robust, additional sustainable enterprise.”
“The board of the Wates Team has initiated the method to identify a new CEO, and further info will be declared in owing program.”
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