Bob Woods is to step down as executive chairman at Mattioli Woods in October next year, although he will remain on the board in the newly-created role of founder director.
Mr Woods’s focus will be as a “key ambassador”, developing the group’s profile as experts in the sector, as well as supporting the development of high end corporate and private clients.
Meanwhile, Joanne Lake has been appointed as deputy chairman of the self-invested personal pension provider’s board of directors. This role is an interim step prior to her proposed appointment as non-executive chairman at the company’s annual general meeting in October 2016.
Ms Lake has been an independent non-executive director and chairman of the audit committee at Mattioli Woods since July 2012.
The board believes this is the “optimal timetable” for the role of chairman to be separated from executive responsibilities, “which will enhance conformity with conventional corporate governance standards as Mattioli Woods continues to grow both organically and by acquisition”.
The period between now and next year’s AGM provides for a “considered handover of responsibilities”.
Ian Mattioli, executive chairman, said Ms Lake’s many years’ experience as an adviser to listed companies will be a great asset to the group.
“Having founded Mattioli Woods with me in 1991, Bob has been instrumental to the success of the group and has overseen its development from specialist pension consultancy into a capable full service wealth management and employee benefits corporation.
“In this new role we will continue to benefit from his experience and insight as both a director and a major shareholder.”
donia.o’loughlin@ft.com
