LONDON (Alliance News) - Miton Group PLC said Friday that Sales & Marketing Director Ian Chimes has resigned from the group and will step down from the board immediately, and said that its chairman will soon move into a non-executive role.
The AIM-listed fund management group said it has already begun a search for a replacement for Chimes.
"This development gives us the opportunity to recruit a senior leadership candidate who will make a significant contribution to growing our business, in particular by extending our distribution strategy in an increasingly dynamic and fast changing market place," said Ian Dighe, chairman of Miton.
On his own role as chairman, Dighe said,"The group has evolved significantly over the last five years and has spent recent months reviewing the board's composition. I intend to move into a non-executive role shortly and Gervais Williams, managing director, will become the group's senior executive director in order to facilitate the new appointment."
Shares in Miton were down 4.6% at 29.11 pence Friday morning.
By Adam Clark; adamclark@alliancenews.com
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