24th Oct 2019 17:50
(Alliance News) - AIB Group PLC on Thursday said Non-Executive Chair Richard Pym intends to step down following the release of the bank's annual results March 2020.
The Irish lender said an announcement on Pym's successor will be made in due course.
"When the previous executive director team resigned in 2018 my role as chairman was to ensure a smooth transition to new leadership. The effectiveness of the senior management team now leading the bank coupled with the successful replacement of four non-executive directors who have retired this year, provides an opportunity for me to retire from the board and hand over to a new chairman," said Pym.
"I requested the senior independent director to commence the succession process at the time of the executive director resignations last year and the result of that work will be announced in due course. I intend to retire in March 2020 and start a new phase of my own activities. It has been an honour to serve as chairman over the last five years and to work in Ireland with some amazingly talented colleagues," Pym added.
In addition, AIB said it has appointed Brendan McDonagh as deputy chair with immediate effect.
By Arvind Bhunjun; [email protected]
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