Irish & Life Permanent chairman to step down

ROY DOUGLAS will step down as chairman of Irish & Life Permanent early month.

Mr Douglas told shareholders at the institution’s annual general meeting yesterday that he had been chairman of the combined group since 1999 and that he considered it the right time to step aside now that the group had integrated TSB bank into the organisation.

“I see my retirement as the natural conclusion of that process and now is the right time to appoint a new chairman to lead the company into the next phase of its development,” he said.