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Ricardo PLC on Tuesday named Grainger PLC's Mark Clare as its new chair, as Terry Morgan plans to leave the company after nine years.
Clare will succeed Terry Morgan as chair of the environmental and engineering consultancy. Morgan, who has held the position for nine years, plans to step down at Ricardo's annual general meeting on November 17.
Clare will join the company on November 1 as a non-executive direction & deputy chair. This will allow for a ‘smooth transition and induction process,’ the company explained.
Clare is currently non-executive chair of Grainger. He has been with the FTSE 250 residential property developer since 2018.
He is also a senior independent director of Wickes Group PLC, a Watford, England-based home improvement retailer, and a non-executive director of Premier Marinas Holdings Ltd.
Between 2006 and 2015, he was chief executive of blue-chip housebuilder Barratt Developments PLC.
Senior Non-Executive Director Malin Persson, Ricardo's senior non-executive director, said: ‘The board is delighted that Mark has agreed to be the next chair of Ricardo. He has experience in leading and chairing publicly listed companies and brings a strong set of skills and experience to the role of chair.
‘On behalf of the Board, I would also like to extend our thanks to Terry for his excellent stewardship over the past nine years, during which Ricardo has made considerable strategic progress,’ Persson added.
Shares in Ricardo were up 0.7% to 419.00 pence each in London on Tuesday morning.
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