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(Sharecast News) - Video games developer and distributor Keywords Studios announced the sudden passing of its chairman Ross Graham on Monday, two weeks ahead of his planned retirement.
The AIM-traded company said the news had come as a shock to the company and the industry as a whole.
Graham had been at the helm of Keywords since its listing in 2013, and had played a crucial role in steering its growth over the last decade.
In anticipation of Graham's planned retirement, the board said it had already made arrangements for a succession plan.
Don Robert had been appointed as a non-executive director and chair designate, set to assume the position after Graham's planned retirement at the annual general meeting scheduled for 26 May.
However, due to the "unforeseen tragedy", the board said it had expedited the succession plan and appointed Robert as the new Chairman with immediate effect.
"Today is a very sad day for all of us at Keywords - Ross has been a huge influence on the group and we were looking forward to being able to mark and celebrate his contribution in two weeks, when he had been due to start his well-deserved retirement," said chief executive officer Bertrand Bodson.
"For me personally, Ross was a huge source of guidance and knowledge over my first 18 months in the role and I will miss his wise counsel.
"On behalf of everyone at Keywords, we send our sincere condolences to all of his family and friends."
At 1153 BST, shares in Keywords Studios were down 0.33% at 2,330.2p.
Reporting by Josh White for Sharecast.com.
