The boss of Newcastle airport is stepping down to work part time for an investment business.

Davie Laws has worked at the north-east airport for 37 years, including ten as chief executive.

He is joining AMP Capital as a part time senior adviser in its international airports business.

Chief financial officer, Nick Jones, will take over as chief executive from May 1 after less that a year working at the airport while an external search for a permanent replacement takes place.

James Ramsbotham, chief executive of the North East Chamber of Commerce, said: “I believe that, by bringing both Emirates and United Airlines to the region, Davie leaves a legacy of success in terms of connectivity and exports. I wish Davie well in his future career.”

Councillor Iain Malcolm, leader of South Tyneside Council, said: “Davie has been an excellent chief executive of Newcastle airport and I would like to thank him for everything he has done for our region during his many years of service.

“Davie will be missed but he leaves a strong legacy and I look forward to seeing the airport build upon that legacy in the future.”

David Rees, partner and head of asset management at AMP Capital, said: “Davie has made an outstanding contribution to the airport and the region and I would like to offer him my sincere thanks and appreciation for building such a strong, successful business. I’m looking forward to continuing to work with Davie at AMP Capital.”