27th Jan 2014 08:27
LONDON (Alliance News) - ARM Holdings PLC said Monday that Non-Executive Chairman John Buchanan is stepping down due to a medical condition. He will be succeeded by Stuart Chambers, currently chairman of FTSE 100 packaging company Rexam PLC.
Chambers also currently serves a non-executive director of grocer Tesco PLC, and previously held positions at Nippon Sheet Glass Group, Mars, Inc. and Royal Dutch Shell PLC.
Buchanan will retire from the board May 1, and Chambers will take over March 1.
Shares in ARM Holdings were trading down 1.6% at 962.50 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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