Chief Executive of L&Q, a regulated charitable housing association, has confirmed he is to stand down.

David Montague is to step down by the end of the current financial year.

He joined L&Q as a member of the finance team in 1988 and became Group Director of Finance in 2003. He was appointed Chief Executive five years later in February 2008.

As CEO, he has overseen L&Q's growth to become one of the country's largest developers and providers of social housing.


He said: "It has been a pleasure leading L&Q in such extraordinary times and working with talented, dedicated and values driven people for the past three decades to deliver our social mission. At L&Q our story began in 1963 with a handful of entrepreneurs, £64 and a dream to house the people who had been forgotten by others; that dream has never waned.

"Our mission is that everyone should have a quality home they can afford; everything we do is about providing essential homes and services for the people that need them most. I couldn't be more proud of what we have achieved in my time as Chief Executive but I have decided that it is the right time for a new challenge.

"I will continue to lead L&Q as Chief Executive until my successor is found. My remaining time will be spent working with the team to develop a new five-year strategy that will help us deliver the best we possibly can for our residents and communities."