WH Ireland chairman and NED to retire
Tim Steel and Richard Lee to exit in December
Two members of WH Ireland's board, including its chairman, will be retiring at the end of the year as the business prepares for its next phase of development.
The wealth management group informed the stock market this morning that Tim Steel, chairman and non-executive director (NED) Richard Lee had announced their intention to retire at the end of December.
Steel joined the board in March 2014 and was appointed chairman in January 2016.
He has overseen a complete change of senior management, including the appointment of a new chief executive, chief financial officer, head of wealth management and head of compliance.
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Steel has also overseen board changes including the appointments of Simon Lough, Philip Shelley and Alistair Buchanan, subject to FCA approval, who will join Victoria Raffe in creating a board that can "provide the relevant and current experience to help WH Ireland achieve its real potential".
Lee has been a NED since January 2010, following an eight-year career at the firm. He will remain as a senior adviser to the firm as it develops its wealth management proposition.
Steel 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."
Lee added: "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 to the role of chairman, for Steel to deliver an orderly handover.
Further, it expressed 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".
