In light of recent press speculation, Imperial Brands said yesterday it was confirming that, in anticipation of the requirements of the new UK Corporate Governance Code regarding a chairman’s tenure on a board, the company had recently started searching for a non-executive chairman to succeed Mark Williamson.
‘This is in accordance with its planned and orderly approach to board succession,’ it said in a note posted on its website.
‘Mark will remain as chairman until his successor has been found and to ensure an orderly handover of responsibilities.
‘A further announcement will be made upon the appointment of his successor.’