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Steve Bundred, the Chief Executive of the Audit Commission for the past six and a half years, will leave the organisation on March 31.

Mr Bundred, who announced last November that he would be stepping down, will be succeeded on an interim basis by Eugene Sullivan, who is managing director corporate services at the Commission.

The Commission Board has begun the process of selecting a permanent successor and will be advertising the post shortly. The Board has decided not to set a salary guideline at this time, but will focus the search on attracting the highest quality candidates.

Mr Sullivan will assume the duties of accounting officer for the Audit Commission during his tenure as chief executive.

Michael O'Higgins, the Commission's Chairman, said 'in Eugene we have a redoubtable leader with extensive experience in the public and private sectors. He commands the utmost respect of his colleagues and I am confident he will lead the Commission very effectively until we have in place a permanent successor to Steve.'

Mr Sullivan said 'I feel honoured to be asked and pleased to have the confidence of the Board. Steve is a hard act to follow but I will do my best. I will have the support of colleagues and together we will manage the Commission through the period ahead when, among its other challenges, a general election will take place'.

Notes to editors

1. Steve Bundred became chief executive of the Audit Commission in September 2003 and was formerly chief executive of the Improvement and Development Agency and of the London Borough of Camden.
2. Eugene Sullivan joined the Commission as managing director, corporate services in 2008. He was previously a partner in RSM Robson Rhodes LLP (now Grant Thornton) and in the 1980s was a district auditor.
3. Eugene Sullivan has confirmed that he will not be applying for the permanent role as Chief Executive.
4. The Audit Commission is an independent watchdog, driving economy, efficiency and effectiveness in local public services to deliver better outcomes for everyone.

Our work across local government, health, housing, community safety and fire and rescue services means that we have a unique perspective. We promote value for money for taxpayers, auditing the £200 billion spent by 11,000 local public bodies.

As a force for improvement, we work in partnership to assess local public services and make practical recommendations for promoting a better quality of life for local people.