Peter Burrows has been promoted from finance director to chief executive.
The Cambridge Building Society has appointed Peter Burrows as chief executive officer.
Burrows joined The Cambridge as finance director in March 2016.
This follows the society’s former chief executive officer Stephen Mitcham announcing his decision to step down earlier in the year.
Burrows said: “Our continued financial strength is essential in maintaining the sustainability of The Cambridge, but increasingly it is important that we develop the society to meet the changing needs of our existing and future members, along with our intermediary partners.
“I’m delighted to be taking over as chief executive officer, and am excited at the opportunity to build on a long and successful history as we take The Cambridge forward as a thriving, independent mutual business.”
Jonathan Spence, chairman of The Cambridge, added: “After a rigorous selection process, Peter Burrows was the clear choice to become the next chief executive of The Cambridge.
“I’m looking forward to having the benefit of Peter’s financial expertise along with his passion for the sustainability of the business, whilst continuing to provide excellent service for our members.”
