Barratt Redrow PLC chief executive David Thomas will retire after 11 years in the role, with former Balfour Beatty divisional boss Dean Banks appointed as his successor.
Banks will join the housebuilder in the final quarter of 2026 and take over as group chief executive once Thomas steps down.
Thomas, who has been at the North East-headquartered company for 17 years, will stay with the business until March 2027 to ensure a smooth transition.
Banks currently runs Ventia, an infrastructure services company operating in Australia and New Zealand. He has been group chief executive there since 2021 and previously held senior roles at Balfour Beatty and De La Rue.
Chair Caroline Silver highlighted Banks's "strong experience as a public company chief executive, with deep knowledge of the construction and infrastructure sectors and a proven track record of value creation".
She also paid tribute to the outgoing chief executive, saying he leaves behind "an industry-leading business with a clear strategy, a strong balance sheet and an exceptional team".
Thomas's time included leading Barratt's £2.5 billion acquisition of Redrow in 2024.