Group corporate development director David Cutter will succeed Goodfellow as chief executive on January 1, 2009.
Cutter will become deputy chief executive on 1 August in order to facilitate a smooth transition.
From 1 January, Goodfellow will become a consultant to the board and will continue his tenure as chairman of the Building Societies Association until May 2009.
Cutter says: “Having seen the advantages of mutuality first hand during my 15 years with Skipton, there is no benefit to be had in changing this model; my aim is ‘business as usual’- to continue to act in the best long-term interests of our members. Our strategy of carefully investing in market-leading subsidiaries will continue, as we build on the strong foundations John Goodfellow has been so instrumental in laying.”
Goodfellow adds: “I am extremely proud to have led the Society for the last 17 years. In that time it has grown to be a vibrant Group business operating throughout the UK and creating 4,000 jobs. And, whilst the current economic climate is challenging, the Society is ideally positioned not merely to weather the storm but to take advantage of emerging opportunities.
“I have thoroughly enjoyed my time as chief executive and thank all of my colleagues for their support and friendship.”