Marsh & Parsons chief executive Peter Rollings will retire after 11 years at the helm to be replaced by LSL commercial director David Brown.
Rollings (pictured) helped Marsh & Parsons increase its revenues tenfold since taking over in 2005. He will stay on as a brand ambassador for two years.
He said: “This was not a decision I have taken lightly however I have been a CEO for 17 years straight and frankly I want to step out of the fast lane and be on cruise control for a while, to take time out with my family and recharge my batteries before taking up any fresh challenge.
“Marsh & Parsons is in great shape and I am leaving the business on a high, confident that the management team can continue to even greater things.”
Brown, who joins with immediate effect, has spent 24 years at LSL. Over the past two years he was managing director of LSLi, which comprises nine estate agency brands with 58 offices in London and South East England.
Ian Crabb, group chief executive of LSL, said: “Peter, since his appointment as CEO of Marsh & Parsons in 2005, has made a substantial contribution to the growth of the business and, since LSL’s acquisition of Marsh & Parsons in 2011, Peter has successfully expanded the business, the team and its iconic brand across London, including increasing the number of branches from 13 to 25.
“On behalf of the LSL Board, I would like to take this opportunity to thank Peter for his substantial contribution to Marsh & Parsons.”