John Armitt, Chairman of the ODA, said: ‘David has done an inspirational job at the ODA over the last five years. We have been tasked with delivering the biggest construction project in Europe on a highly contaminated site to the ultimate fixed deadline.

‘David set up the ODA from scratch and leaves it with the project on time, within budget and on the verge of completing the first major venues on the Olympic Park. He has done all this at the same time as helping achieve a first-class safety record and driving forward innovation in terms of sustainable construction. This is an exciting opportunity for David and I am sure he will do a brilliant job leading Network Rail over the years to come.

‘Dennis Hone, who replaces him, has been Director of Finance at the ODA for the last four years. He has played a key role in our success to date and is a first class replacement. He will give the ODA important continuity as we face the challenges that lie ahead.’

Read the full media release.