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(Alliance News) - Ten Lifestyle Group PLC on Thursday said Chair Bruce Weatherill will step down in the autumn after six years at the firm.
The London-based lifestyle and travel services company said this was due to ill health.
It said the board has decided to name Non-Executive Director Jules Pancholi as Weatherill's successor.
Pancholi "brings extensive experience in driving value creation through growth, technology and product-market fit", Ten Lifestyle said, noting prior experience such as being non-executive director of Skyscanner Ltd and chair at Oritain UK Ltd, along with other executive and non-executive positions.
Ten Lifestyle said it has begun a recruitment process for a new non-executive director to replace Pancholi upon his promotion to chair.
"I am saddened by Bruce's decision to stand down, but wholeheartedly support his decision to prioritise his health. Bruce has been an outstanding chairman for six years, has demonstrated a clear vision, strategic focus, and fostered a positive governance culture," said Ten Lifestyle Chief Executive Officer Alex Cheatle.
"As we look ahead, Jules will assume the role of chair. With his existing knowledge of the business and expertise in technology, Jules is well-equipped to lead the board."
Shares in Ten Lifestyle were down 1.3% to 95.00 pence each in London on Thursday afternoon.
By Greg Rosenvinge, Alliance News reporter
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