Admiral Group non-executive chairman Alastair Lyons is set to retire in April after holding the post for 16 years, the motor insurance firm has announced.
According to the company, Lyons does not plan to seek re-election as a director of the insurance group at its annual general meeting on April 26.
Alastair said “it is the right time for me also to handover” following the appointment of David Stevens as Admiral Group CEO in 2016 replacing Henry Engelhardt.
“It has been fantastic to have been on the journey with Admiral since the management buy-out, a journey which I am confident will continue to deliver sustained success,” said Lyons, who has been chairman since June 2000.
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“The way the business has developed has been astonishing and a tribute to a great team that has created a culture that breeds innovation, the drive and ability to succeed, openness and transparency. I shall miss it, and them, greatly,” he added.
Commenting on the directorate change, Stevens said “There are very few people who deserve as much credit for Admiral’s success over the last sixteen years as Alastair.”
“A skilled and incredibly diligent chair, an articulate advocate and, above all, a clever ego-free deeply knowledgeable source of advice for myself and my predecessor, he's been everything our shareholders, and indeed our staff and customers, could have wanted from a chairman,” Stevens said.
Admiral will announce the next chairman following regulatory approvals.
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