25th Sep 2014 09:47
LONDON (Alliance News) - Charles Stanley Group PLC Thursday said David Howard will relinquish his role as the chief executive of the company, but will retain his role as chairman.
Howard has been chief executive of the company since its incorporation in 1988 and took on a dual role as the company's chairman too in 1999.
The broker said Howard had decided to step down from the chief executive role in light of the European Union's Capital Requirements Directive, which includes a requirement to separate the chief executive and chairman roles.
Charles Stanley said its nomination committee has now been tasked with identifying a replacement for Howard as chief executive.
Charles Stanley shares were flat on Thursday, quoted at 297.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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