Leeds Building Society chief executive Richard Fearon will temporarily step down from the mutual as his family prepares to have a baby.
Fearon will be replaced by interim chief executive Annette Barnes, subject to regulatory approval.
Barnes is the firm’s senior independent director and has served on the board since 2019.
Before joining the society’s board, Barnes was chief executive at Lloyds Bank Private Banking and a managing director within Lloyds Banking Group. She has more than 35 years of experience in financial services.
Fearon, who took the top job in 2019, says: “I’m taking a temporary break so I can prioritise family time and making the most of a new baby due in October.
“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.”
He adds that he was “fully committed” to the business.
Barnes adds: “I and all of the board members give Richard our full support. I’m very pleased to help the society by taking on his chief executive role on an interim basis.”
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