Martin will have been with the company for 27 years and took over as CEO in 2019.

Lendlease’s Global Chief Executive Officer, Tony Lombardo, said: “Having devoted a very significant chunk of his career to Lendlease, Neil’s made a huge contribution both to who we are as a company and how we operate around the world.

“I believe the mark of a leader is the work they do to nurture our next generation of talent. Neil has done an exceptional job in building a strong leadership team, and we’ll be announcing his successor in due course.”

Martin will remain in his role for the next six months to support a smooth transition and the process to appoint a new Europe Chief Executive Officer will begin soon.

He said: “Lendlease is a fantastic company to work for and it’s been an enormous privilege to have been entrusted with several key roles during my time with the business.

“I would like to thank all of the incredibly talented and hard-working colleagues who’ve supported me throughout my career; and I’m extremely proud of what we’ve achieved together.”