Brooks Macdonald has announced that its chair Alan Carruthers has resigned after almost four years in the role.
In a statement to the stock exchange today (February 7), Brooks Macdonald said following a series of health issues over the past 12 months, Carruthers has informed the firm of his decision to resign from the board with immediate effect to give him time to recuperate fully.
Senior independent director Richard Price will assume the role of acting chair.
Commenting on the resignation, Price said: "We are all deeply sorry that Alan is leaving Brooks Macdonald in these circumstances and we wish him a full and speedy recovery.
“Under Alan's chairmanship the group has built real momentum towards our ambitious growth plans and I am confident those plans will continue to be executed successfully by Andrew Shepherd and his management team."
Books Macdonald appointed Carruthers to the role in March 2019.
He was a director of small cap brokerage Numis and replaced Christopher Knight at the time.
Knight had been chair for 14 years, and a director for 17 years. During his period as chair he led the company through its initial public offering (IPO).
sonia.rach@ft.com
What do you think about the issues raised by this story? Email us on FTAletters@ft.com to let us know
