CompaniesApr 19 2012

Tenet executive chairman steps down

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Adviser support services firm Tenet Group has announced that Lord Hodgson of Astley Abbotts has stepped down from the board.

Following his departure the group has reorganised the main board, with Martin Greenwood becoming executive chairman and Mike O’Brien, managing director of TenetConnect and TenetSelect, appointed to the board as group brands director.

Lord Hodgson has served the group over a period of four and a half years as non-executive chairman and the company said he was responsible for helping to ready the company for the impact of the Retail Distribution Review.

Lord Hodgson said: “I have very much enjoyed my time as Tenet Group chairman. It has not been without its challenges, but I am confident that having successfully weathered the very difficult economic conditions of the past few years, Tenet is well placed to thrive in the post-RDR world.”

Mr Greenwood added: “Tenet has made notable progress during Lord Hodgson’s chairmanship and he leaves the group at a time when it is recognised as being one of the financially-strongest in its chosen sector.

“Moreover Robin has been instrumental in helping to position and prepare the business to fully support both independent and restricted advisers in the post-RDR environment.

“Mike O’Brien has been with the group for nearly two and a half years and his appointment to the group board is well deserved.

“His knowledge and experience of the financial services sector, alongside that of helping businesses to grow, will ensure the group continues to go from strength-to-strength and that the various brands under which we provide services and support to the adviser community further their reputation as market leaders.”

He concluded by saying that, in due course, the group board would be enhanced by the appointment of up to two new independent non-executive directors.