The Rank Group has announced that Ian Burke is to step down from his role as chairman later this year.
The company stated that Ian Burke will not stand for re-election as corporate chairman during an investor update. He has held the role for eight years and will step down as of the Rank AGM on 17 October.
Senior independent director Chris Bell will now initiate a process to appoint Burke’s successor. Rank stated that there will be a formal update on this search “when appropriate”.
Ian Burke, Rank Group chairman said: “I have enjoyed my time at Rank immensely and am extremely proud of what we have achieved as a company. I have decided to step down as chairman in the knowledge that Rank has a strong management team and board which will take the business forward through its transformation programme.”
CEO John O’Reilly said: “Ian has played a key role at Rank for many years. I would like to thank him personally for his invaluable support and counsel since I joined the company last year.”
The announcement of Burke’s imminent departure came as the Rank Group updated investors on its third quarter trading figures.
The company further announced that its expectations for the year remain unchanged. Additionally Bill Floydd – CFO since November – will join the board with immediate effect.