Former chief executive Stephen Mitcham has stepped down “to spend more time with his family and pursue other interests,” The Cambridge said.
Burrows (pictured) joined The Cambridge as finance director in March 2016 and has 20 years’ experience in executive and consulting roles in financial services in the UK and overseas.
The Cambridge credited Burrows for its Rent to Home initiative for first-time buyers, which launched in April, as well as investments in its digital networks and infrastructure.
The initiatives had “helped to prove that The Cambridge has ambitious commitment to focus on innovations that will serve our community over the long-term,” the society said.
“I’m confident that we can build on our success as a thriving independent mutual and continue supporting people to have a home,” said Burrows.
Jonathan Spence, chairman at The Cambridge, added: “After a rigorous, summer-long selection process, Peter was our clear choice. I look forward to having the benefit of his financial expertise, along with his passion for community, to help grow our business.”