His departure was introduced to staff this morning.
Philip Wainwright, main economic officer, will turn out to be interim CEO pending the appointment of a long-lasting successor.
Allen joined the Wates Group in January 2016 and has been CEO of the £1.2bn turnover small business considering that April 2018.
Just a handful of months back Allen exposed that Wates, now in its 125th yr, had accomplished its greatest-at any time functioning income of £40m following a bumper yr of orders.
Chairman Sir James Wates stated: “During his time as our CEO, David’s intelligence, motivation, and compassion has stood the organisation in superior stead and in particular ensured that the Wates Group effectively responded to the worries of the pandemic.
“The board many thanks David for his contributions and needs him the pretty greatest for the long run.”
He included: “We have an remarkable administration group in put, and we have the appropriate extensive-phrase approach – each to consider advantage of market place possibilities as properly as to meet our goal of handing above to the up coming era of loved ones possession a more robust, additional sustainable enterprise.”
“The board of the Wates Team has initiated the course of action to establish a new CEO, and even further facts will be declared in due system.”