Tim Steel and Richard Lee have informed the Board of their intention to retire as Chairman and as Non-Executive Director of WH Ireland plc at the end of this December 2019.
Mr. Steel joined the Board in March 2014 and was appointed Chairman in January 2016.
Tim has overseen a complete change of senior management with a new CEO, CFO, Head of Wealth Management and Head of Compliance. He has also overseen a significant change in the Board with Simon Lough, Philip Shelley and Alistair Buchanan (subject to FCA approval) added to Victoria Raffe to create a Board that can provide the relevant and current experience to help WH Ireland achieve its real potential.
Richard Lee has been a Non-Executive Director since January 2010, having worked at WH Ireland for 8 years before that.
Richard will continue as a Senior Advisor to the company as it develops its Wealth Management business.
The company has made good progress in its recovery plan despite challenging market conditions and will update the market at its Interim Results in November.
Commenting on today’s announcement, Tim said:
“Having overseen the implementation of the first phase of our recovery plan and the recruitment of a new senior management team and Board, it is time for a new Chairman to oversee the next stage of WH Ireland’s development. I wish the company every success for the future.”
Commenting on today’s announcement, Richard said:
“After many years of working at WH Ireland, I am pleased to be leaving the Board in good hands and I am delighted to be able to continue to help as it continues to execute its recovery plan.”
The Board has initiated a process to identify and appoint a successor for Tim to ensure an orderly handover.
The Board wishes to record its great appreciation for Tim’s contribution to the Company over the past six years as well as to Richard who has been such an important part of WH Ireland’s development.