(Alliance News) - Watches of Switzerland Group PLC on Thursday said Chair Dennis Millard will not be seeking re-election at the company's upcoming annual general meeting.
Millar will continue as chair until the close of the AGM on October 14 and will be available until December to assist in the transition to the new chair.
The FTSE 250-listed British retailer of Swiss watches said its senior independent director, Tea Colaianni, will take over as interim chair from the AGM close in October.
Watches of Switzerland is seeking a successor to Millard and has appointed external consultants Spencer Stuart to assist with this.
Shares in Watches of Switzerland were down 0.6% at 322.00 pence in London on Thursday morning.
By Anna Farley; annafarley@alliancenews.com
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Watches Switz (WOSG)