Mr Howitt is set to become chief executive of leading global organisation, the International Integrated Reporting Council, which is dedicated to linking companies with society, the environment and the wider economy. It will be a great privilege to apply my experience in Europe to a truly international role, said Mr Howitt. I feel this role is a culmination of two decades worth of advocacy for higher levels of corporate transparency, governance and reporting to deliver a new bargain between business, capital markets and society. During more than 22 years as a Labour Euro MP, he has helped negotiate multi-million pound European investment regenerating coastal and market towns locally, establishing East coast ports and airports as priority European trade routes and devoting EU regional aid to helping local business transition to low carbon growth. It has been an enormous privilege to serve in this role and I cannot thank enough the countless people who I have sought to help - and who have shown extraordinary kindness in helping me, added Mr Howitt. It is time for me to take on a new role, but my personal values are as strong as ever, I will remain living with my family locally and I am sure the many friendships I have made will endure long in to the future. Mr Howitt is expected to take up the new role in November and continues to undertake his full duties until his formal resignation. The European Parliament procedure means Britain will nominate the next Labour candidate, Alex Mayer, from the last European Elections in 2014 to replace him as Euro MP.