Mechanic’s son who still drives a Fiesta

AS the son of a mechanic and some- one who left school at 17, Jeff Fairburn has always been proud of his humble roots. And despite being in line for a bonus that would make a banker envious, he seems determined to stay true to them.

Having trained as a quantity surveyor, he worked his way up from building site to boardroom and is now group chief executive of the country’s largest housebuilder, Persimmon.

But the Ford Fiesta parked on the driveway of his unexpectedly modest home yesterday was testament to his reputation as a man who shuns the trappings of wealth. He appears to have sent his three children to comprehensives.

Despite his £2million annual pay package and expected £93million windfall, there is little indication as to how the 50-year-old spends his money. He bought the family home in Durham in 2011 for £1million.

Although he describes Formula 1 motor racing as one of his interests his taste in cars is conservative at best. Instead of a Ferrari or Lamborghini, he has a red Fiesta, which costs around £15,000 new.

The only sign of luxury is the fact he has been on holiday in Florida. He once booked a family camping holiday near Silverstone to watch the British grand prix.

Born in York in 1966, Mr Fairburn left school to get a ‘practical job’ having decided that university was not for him. He won a place on a youth training scheme as a quantity surveyor, following in the footsteps of his uncle. He got his big break when he joined Persimmon in 1989 and has enjoyed a rapid ascent up the ranks.

In 1994, he married his wife Jayne, 49, who is a treasurer for Pancreas North, a pancreatitis support group, in Sunderland. Mr Fairburn survived the financial crisis, in which Persimmon sacked 2,000 of its 50,000 staff. He secured the top job in 2013, and has presided over booming profits and bonuses.