The Office of Fair Trading appointed Clive Maxwell as its new chief executive officer, the regulator said today in a statement.
Maxwell, who has been on the OFT’s board since September 2010, replaces John Fingleton, who has been in the role for seven years. The U.K. antitrust regulator said Maxwell will be paid 135,500 pounds ($209,000) a year.
“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,” Vince Cable, the U.K. business secretary, said in a statement.
The U.K. government announced in March that it planned beginning in April 2014 to bring together the antitrust functions of the OFT and the Competition Commission to create the Competition Markets Authority.