Mike Parsons, founder and chief executive of Barchester Healthcare, has announced his intention to retire.
As yet a date for his departure has not been set, nor has a successor been found, but Mr Parsons has confirmed that he will be staying on the company's board as a non-executive director.
He will also continue his duties as the chairman of Barchester's Charitable Foundation and vice-chairman of the English Community Care Association.
"My decision to retire this year from executive life comes after 20 years building a business that I take immense pride in. To spend so many years as a chief executive does bring with it strains, but also great satisfaction when I look at the quality of homes that Barchester has created," he said.
Mr Parsons added that he is looking forwards to working a new chief executive.
Barchester currently has over 10,000 residents at care homes across the country and employees over 17,000 people.
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