InvestmentsSep 25 2014

Sir David Howard steps down as Charles Stanley chief

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Charles Stanley’s Sir David Howard has resigned as chief executive in order to comply with EU rules that stop him from holding the role as well as being chairman.

Under the EU’s capital requirements directive (CRD IV), the roles of chief executive and chairman have to be taken by different people.

Sir David has been chief executive of Charles Stanley since 1988 and chairman of the firm’s board since 1999.

He has decided to step down as chief executive and remain as non-executive chairman.

Charles Stanley has begun the process of finding Sir David’s replacement and he will continue as chief executive on an interim basis until a replacement is found.