A HUNT has been launched for a new £125,000-a-year boss to lead the regeneration of East Lancashire.

Regenerate Pennine Lancashire (RPL), the publicly-funded body set up to boost economic growth, needs a new chief executive to replace Max Steinberg, who left last week.

Housing renewal expert Mr Steinberg was understood to have earned £140,000 a year for his role with RPL, which was formerly called Elevate.

But those leading the recruitment hunt said that the new boss would be paid a maximum of £125,000.

They also said the chief executive’s role would be focused more on luring new businesses to East Lancashire and creating jobs.

Chairman Dennis Mendoros said: “The new role will be similar to what Max was doing but it will be focused on growing the private sector.

“The organisation has changed and conditions have changed, and so the brief is very different.

“We have not decided whether or not that means we will get someone from the private or public sector.

"We will just see what we get and decide.”

Mr Mendoros said only an 'exceptional candidate' with the right experience would be paid £125,000.

He added: “We are all taxpayers and we are concerned that we get value for money.”

The hunt for a new boss, to be based at Accrington’s Globe Centre, was launched last week by specialist Robinson Keane.

Applications are invited by July 17 with Mr Mendoros and East Lancashire’s six council leaders grilling the shortlisted candidates.

East Lancashire Chamber of Commerce chief executive Mike Damms said: “I think there’s no doubt that the balance of this role has shifted from housing to other issues of regeneration, like private sector growth and creating new jobs.

“The ideal candidate for us will be someone with both public and private sector experience.”

Merseyside-born Mr Steinberg, who was appointed chief executive of Elevate in 2003, announced in April he would be quitting East Lancashire to take over at regeneration organisation Liverpool Vision.