The house-builders has been looking for a new CEO since February when it revealed that David Jenkinson was leaving as soon as a suitable successor had been identified. He had only been in the top job for 15 months.
Dean Finch, aged 53, is expected to join Persimmon at the end of the year.
He has been the CEO of National Express since 2010. Before that, he was group chief executive of Tube Lines and finance director and chief operating officer at First Group.
At Persimmon he will not be earning the sort of £75m bonus that former chief executive Jeff Fairburn received in 2018, creating dreadful publicity for the company. Mr Finch’s basic salary will be £725,000, plus 9% pension allowance, with bonus opportunities and share options, making a total maximum package of around £4m.
Persimmon chairman Roger Devlin said: "Dean is a seasoned, well-respected and proven chief executive with an exceptional record. In his current role he has delivered substantial strategic and operational progress over a sustained period, delivering value for all stakeholders in the business while developing a distinct and cohesive culture, focused on customer care and service. The board believes that Dean is a great fit for Persimmon and is well qualified to lead the business into the next phase as we continue to drive a programme of change to become the leading volume builder of good value, quality family homes throughout the UK. I look forward to welcoming him to the company at the end of the year.”
The chairman added: “I would also like to thank Dave Jenkinson for his outstanding contribution to Persimmon over many years, and particularly for his decisive leadership during the Covid-19 outbreak. Dave has committed to lead the business until the conclusion of the current financial year in December."
Dean Finch said: "Persimmon is a strong business operating in a sector that has a critical role to play for both the people and the economy of the UK as we emerge from the profound disruption of Covid-19. I look forward to leading the business in its drive to become Britain's best housebuilder and delivering for all stakeholders in the business whilst continuing to deliver strong financial returns to investors."