The Chief Executive of Bovis Homes, David Ritchie, has announced his intention to step down from the company.

Having spent 18 years at the housebuilder, serving as Chief Executive over the last eight years, Mr Ritchie will remain with the Group to assist the transition process until 28 February.

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Finance Director Earl Sibley has been appointed as Interim Chief Executive as the Board begins to hunt for a permanent successor.

Mr 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."

(LM/MH)