By Daniel Hunter

Business Secretary Vince Cable has announced the appointment of Clive Maxwell as Chief Executive of the Office of Fair Trading (OFT).

Mr Maxwell is currently an Executive Director and Board member of the OFT and will succeed the outgoing CEO, John Fingleton, who announced in February that he was stepping down after seven years in the role.

Mr Maxwell will take over from Mr Fingleton following a hand over period. A formal start date for his new role will be confirmed shortly.

“I am very pleased to welcome Clive Maxwell as Chief Executive. Clive is already a highly effective member of the OFT leadership team and has been instrumental in forging strong relations with Government and the Competition Commission on the development of the new competition regime," Vince Cable said.

“Clive’s experience and expertise mean he is well qualified to provide strong leadership during the transition to the new Competition and Markets Authority.

“I would also like to thank John Fingleton for his huge contribution to the UK’s consumer and competition regime over the past seven years and wish him well for the future.”

Chairman of the OFT, Philip Collins said:

“I am delighted that Clive Maxwell, with his considerable experience across Whitehall and the OFT, has accepted this appointment. Clive has played a major role in the OFT’s thinking about the regimes for which it is responsible and its future work. He is the right person to lead the organisation through the forthcoming changes.“

Clive Maxwell said:

”I am proud to be taking on this role of leading the OFT and its staff, with its strong record of driving competition and protecting consumers. We will remain focused on making markets work well for consumers while also helping ensure a successful transition to the new competition, consumer and credit regimes.”

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