Chairman Bill Savage to stand down
Hot on the heels of Cardiff Council's confirmation of renewed investment in Cardiff & Co, the company's Chairman Bill Savage announced his intention to stand down from his role after the September Board meeting.
Commenting, he said:
“I’m delighted to have been able to successfully lead the effort, in conjunction with our Managing Director, Richard Thomas, to secure renewed core investment from Cardiff Council. We have always appreciated the Council’s support and believe that it reflects well on the progress we have made.
“As the company moves into its second phase which will see it working to a five year Strategy and Business Plan, the time is right for me to stand down from this non executive role, handing the reins over to the right person. It was always the intention that I would step down by April 2012 but following my recruitment to a new full time executive role elsewhere, I have brought the timing forward. To help ensure a smooth transition, I will remain as Chairman of the company until the September Board meeting and will work closely with the Chairman of our Audit Committee and the MD to put in place the recruitment process for my successor.
Commenting on Bill Savage’s planned departure, David Grant, Vice Chancellor of Cardiff University said:
“As an investor in Cardiff & Co I have been delighted by the way that Bill Savage has led the company, and the way in which he and Richard Thomas have formed an excellent team as Chairman and Managing Director respectively. I would like to wish Bill the very best for his new role, and am confident that the company will be able to secure high quality applicants for the role of Chairman, given the positive future that lies ahead.”
Referring to the future, Richard Thomas, the company’s MD said:
“Bill has been an excellent Chairman for Cardiff & Co and it’s sad to see him move on. However, he has left the company in a very strong position and my focus, and that of my team, will be on delivering the outcomes and activities we will be outlining when we publish our Strategy and Business Plan 2011-16. I will also be liaising with investors and our Board Directors to ensure that a transparent recruitment process is put in place to recruit Bill’s successor and other Board Directors. An announcement on this will be made shortly, as will an announcement on new private sector investment In the company.”
07/06/2011
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