Sarah Bates decided to retire as chair and a director of St. James's Place PLC, the British wealth management group said May 23.
Iain Cornish, currently senior independent director, will succeed Bates, with Roger Yates succeeding him as senior independent director. The appointments will take effect on the later of July 5 or once the company receives regulatory approvals.
Bates joined St. James's Place's board in 2004 and became its chair in 2014.
The company is also in the advanced stages of appointing a new independent nonexecutive director to the board.
