Charles Taylor has confirmed that David Watson will retire from the board and his position as audit committee chairman on 30 November. Non-executive director Paul Hewitt has been appointed as audit committee chairman with effect from the same date.
Charles Taylor chairman Edward Creasy said: "We are very grateful to David for his significant contribution over the last six years to Charles Taylor both as a director and as chair of the audit committee. The company has made significant progress over the period of David's involvement and stewardship, and I would like to thank him personally and on behalf of the board for his commitment and contribution to the success of the company.
"Paul will make an excellent chairman of the audit committee. His breadth of experience, both as an executive and a non-executive director, makes him ideally qualified for the role."
At 8:13am: (LON:CTR) Charles Taylor PLC share price was -2.88p at 289.5p