OFT chief John Fingleton quits Under Mr Fingleton's reign the OFT has significantly beefed up its enforcement division, taking on lawyers and investigators. The robust approach to market manipulation has not always gone smoothly for Mr Fingleton. One of the most recent crackdowns on builders resulted in £130m of fines against a total of 103 companies. The admission of wrongdoing was a major victory for the OFT but was soured when the Competition Tribunal slashed the fines by up to 90pc. Despite this Mr Fingleton's easy-going management style, ability to communicate and his ambition means his tenure is likely to be seen as a success. On Thursday John Cridland, CBI director-general, said: "John Fingleton has been an exceptional chief executive at the Office of Fair Trading. He has promoted business growth by making the case for open and competitive markets. He will be missed. In his resignation letter to Business Secretary Vince Cable, Mr Fingleton said he had decided to leave as the "reform proposals had now reached a suitable juncture to enable arrangements for my succession to be taken forward." Mr Fingleton's contract has six months to run. His successor will be appointed by Mr Cable in consultation with Philip Collins, the chairman of the OFT. Mr Fingleton joined the OFT from the Irish competition authority. Prior to that he was an economist and academic.