Alliance & Leicester CEO to retire

Richard Pym has revealed his intention to step down from the chief exec
throne at
Alliance
& Leicester.

Pym 58, made the move to give the
FTSE 100 bank an adequate
amount of time to conduct a thorough search for his replacement before he
reaches the compulsory retirement age. He was the bank’s former FD and is a
chartered accountant.

At a presentation of Alliance & Leicester’s final results Pym said: ‘I
have gained enormous personal satisfaction from the progress the business has
made over the five years since I first became chief executive. However, I will
be 58 years of age later this year and I have asked the board to begin to
consider who my successor will be.’

‘It is never possible to predict timescales for these processes and in the
meantime I
am fully committed to ensuring that Alliance & Leicester remains
successful.’

Pym stated that the bank has already appointed a search consultancy to look
at a range of potential candidates, ‘both internal and external.’

Chairman, Derek Higgs, added: ‘Richard Pym has informed the Board of his wish
to step down as group chief dxecutive and we respect that decision. Richard has
led the company over the past five years with distinction and has put together a
first class management team at all levels.We are beginning a process, managed by
the nomination committee, to appoint the best candidate to succeed Richard. He
is certainly a hard act to follow.’

Further reading:

Kazakhmys CFO promoted to chief exec

Bull run ensures CEOs stay in the
saddle 

Alliance & Leicester names new
chairman