(Alliance News) - Investec PLC and Investec Ltd on Friday said former chief executive officer Ian Kantor will step down from the board in August.
Kantor, who co-founded the financial services firm, serves as a non-executive director. He will not stand for re-election at the company's annual general meeting on August 6.
Investec said: "The board is grateful to Ian for his exemplary service, commitment and contribution to the group. Having been with Investec as a director for over 45 years, Ian's entrepreneurial spirit, passion and tenacity have been an instrumental driving factor in growing the group."
Investec was trading 3.6% lower at 158.05 pence each in London on Friday afternoon. In Johannesburg it was 4.1% lower at ZAR33.77.
By Eric Cunha; ericcunha@alliancenews.com
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Investec (INVP)