Synectics PLC on Wednesday said Chair David Coghlan plans to retire by the end of this year.
Coghlan has been chair of the Sheffield, England-based security systems company for 16 years.
Synectics said that Coghlan has agreed to remain as chair until his successor is in place to support a smooth transition and handover.
The search to find his replacement has begun, the company added.
Coghlan said: ‘Having had the honour of chairing Synectics for 16 years, it is now time for me to step back from my current commitments to a less direct role and to support the future success of the Company as an actively engaged outside shareholder.’
Shares in Synectics were flat at 105.00 pence each in London on Wednesday midday.
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