Nigel Melville will step down as chairman of U.K.-based venture capital trust Mobeus Income & Growth 2 VCT Plc and retire from the company's board at the end of its Sept. 12 annual general meeting.

He has held the role since September 2016, having joined the board in May 2000.

Ian Blackburn, currently a nonexecutive director, will become nonexecutive chairman immediately after Melville's departure. He has been a director since July 2017.