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Quilter PLC announced on Monday that its chair designate, Glyn Barker, has stepped down for personal reasons.
The wealth management company said Ruth Markland will now become chief designate, while Tim Breedon will replace Markland as senior independent director.
Markland previously served as the interim chair designate, following Quilter's annual general meeting in May 2022. She will receive a £350,000 per year salary. Breedon will receive an additional £20,000 per year as senior independent director.
"While we are disappointed by Glyn's decision, we very much understand his personal reasons for making it. We thank Glyn for his contribution to the Board over the last several months and he leaves with our very best wishes," said Markland, thanking members of the board for their support and confidence.
Shares in Quilter were down 0.7% at 106.20 pence on Monday morning in London, while its shares in Johannesburg were down 0.2% at R 21.66.
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