Man Group announces that Jon Aisbitt intends to step down as Chairman and as a director of Man Group plc in May 2016 at the Company’s Annual General Meeting (AGM). A committee of the Board, led by the Senior Independent Director, Phillip Colebatch, will identify his successor.
Jon Aisbitt was appointed to the Board as a non-executive director in August 2003 and was appointed Chairman in September 2007.
Jon Aisbitt, Chairman of Man Group, said: “It has been a privilege to lead the Board over the past eight years, and I am very proud of the progress the firm has made in diversifying and repositioning for further growth. I would like to thank my fellow Board members and the executive team at Man Group for their support and commitment. I will leave Man Group in the hands of an experienced, dedicated management team, and with a first-class Board, with whom I will continue to work over the next year to help ensure a smooth succession process."
Emmanuel Roman, CEO of Man Group, said: "On behalf of our shareholders and everyone at Man Group, I would like to thank Jon for his exceptional service and dedication to the firm over the past 12 years. Jon’s leadership of the Board through significant change for Man Group has been invaluable. He has been a great support, guide and challenge to me personally as we have worked very hard to reposition the business. Jon’s decision to step down at next year’s AGM is part of a well-considered succession plan and allows the Board the time and flexibility to find the right candidate to succeed him."
Man Group also announces that John Cryan will succeed Phillip Colebatch as Chairman of the Remuneration Committee following today’s AGM. John Cryan was appointed to the Board as a non-executive director and as a member of the Remuneration Committee and Nomination Committee in January 2015. Phillip Colebatch will continue to serve as a non-executive director and as Senior Independent Director.