7th Oct 2014 14:27
LONDON (Alliance News) - PR firm Huntsworth PLC Tuesday said that Chairman Paul Myners has retired with immediate effect.
Myners, the former financial services secretary in Gordon Brown's government, became chairman at the company's annual general meeting in June, after former chairman Richard Sharp stepped down.
As well as serving as a Labour minister, Myners was chief executive and chairman of fund manager Gartmore Group and was also chairman of Guardian Media Group. Most recently he joined the board of troubled Co-Operative Group, but quit in April after his proposals for a corporate revamp met with resistance.
"The time commitment required for this role has proved to be more than Lord Myners envisaged and it is considered appropriate that a new chairman should take the lead on the appointment of a new chief executive officer," the company said in a statement.
Huntsworth said it will make an announcement regarding its new chairman as soon as possible.
It also said that it continues to trade in line with expectations.
Huntsworth shares were down 2.6% at 47.26 pence Tuesday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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