Gallagher Group CEO Nick Yandle is to step down at the end of the year.

Mr Yandle has been with the company for 13 years, and will remain with the company on an advisory basis.

He said: "My time with Gallagher has passed very quickly, with many highlights. This is testament to our varied activities and the fast moving and entrepreneurial approach we take to the opportunities we create. There is now another generation of ownership and management coming through in Gallagher and the time is right to hand on the baton. I'm looking forward to another chapter in my working life, continuing to help Pat and the Gallagher business along the way."

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Gallagher Group Chairman, Pat Gallagher added: "Nick has made an invaluable contribution, alongside the members of the Group's Management Team, in building the business into the very successful enterprise which exists today.

"On behalf of the Gallagher family and our wider business, I would like to extend our warmest thanks to Nick for his contribution and wish him well as he begins a new chapter in his successful career."

A search is underway from the Gallagher group board to appoint a new CEO.

Recently appointed non-executive directors Steve Hollingshead and Paul Collins are leading the search.

Mr Hollingshead said: "We are progressing well with our plans to appoint a new CEO. It is an extremely attractive position and the successful candidate will join a strong, well-established business with the opportunity to work with the family owners and management team to set an exciting future strategy and plan for further profitable growth."

(CM)