- The chief executive of Persimmon, David Jenkinson, has confirmed he will be stepping down from his role 'in due course'.

Mr Jenkinson has spent 23 years at the UK housebuilder, and 15 months in his current position. He will remain as CEO 'for as long as the business requires', the company said.

Roger Devlin, chairman of Persimmon, said the board was grateful for the early indication of his intention to step down from his role.

The news comes as Persimmon revealed a drop in 2019 profits.

Pre-tax profits in 2019 fell 4.5% to £1.04bn and its underlying housing operating margin dropped from 30.8% in 2018 to 30.3% in 2019.

At 8:05am: [LON:PSN] Persimmon PLC share price was -106p at 2972p

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