Matthew Warchus, artistic director of the Old Vic, is to step down in September 2026.
Warchus will leave the London organisation after 10 seasons of work since his appointment in 2015, and said the theatre was "without question my favourite in the world".
Recruitment for his replacement will begin this summer, with Warchus’ next steps currently unclear – although Warchus clarified he felt it was "time to pass on this very prestigious baton".
He commented: "Being the artistic director of the Old Vic has been one of my life’s greatest privileges and pleasures. It is without question my favourite theatre in the world.
"As a charity without any regular public subsidy, the survival of the Old Vic is dependent on regularly filling its 1,000 seats by engaging as wide an audience as possible with work of the highest quality.
"An average year of performances at The Old Vic will necessarily play to a total capacity greatly exceeding that of most of the exciting, but much smaller, producing venues in the capital – more than double the Young Vic, about three times the Almeida, Hampstead and London’s Royal Court, and more than four times that of the Donmar.
"And for the same reasons, the Old Vic’s accessible ticket scheme likely provides more affordable tickets than any other London theatre except for the National.
"This level of reach represents a great opportunity, challenge and responsibility. My aim has been to deliver ‘entertainment with a purpose’… a varied programme of work with always something important to say but that doesn’t feel like medicine… and I’m proud of the many fun, uplifting and inspiring productions we have presented throughout my tenure.
"The greatest joy and privilege, however, is in the huge number of first-time theatregoers we continue to welcome through our doors. This quintessential playhouse with an exhilarating spirit of adventure, the Old Vic really is the perfect place to experience theatre for the first time."
He concluded: "The Old Vic board, senior management team and entire staff is comprised of brilliant colleagues, who have provided exemplary support and expertise and, the truth is, I would happily stay for many more years but it’s time to pass on this very prestigious baton. Meanwhile, I’m delighted to be continuing for two more seasons and look forward to announcing those upcoming shows in due course."
Old Vic chair Nick Clarry added: "Matthew has the most extraordinary ability to create and find work that reaches audiences of all generations and from all backgrounds. In his hands, the Old Vic has become a thriving producing house with a spirit of adventure."
Invest in The Stage today with a subscription starting at just £7.99