Macgowan joined the society as chief executive in 1999 after a period as head of the RMIF.

He has also worked for several automotive companies including British Leyland, Massey Ferguson and most recently Ransomes PLC.

“It will be business as usual for the next seven months and I intend to leave at the top of my game,” said Macgowan.

“It has been a privilege working for the industry in this crucial role and I have enjoyed every moment of my nine years with the society.”

SMMT president Graham Smith said Macgowan had made a significant contribution to the industry and would be a tough act to follow.

“On behalf of the SMMT I would like to thank him for his significant contribution, not only to the industry, but also to the effectiveness and strength of the society. We will miss him,” said Smith.

Macgowan will remain in the automotive industry and is expected to take on several different roles rather than a full-time position.