Proactive Investors - S4 Capital PLC (LON:SFOR) has announced founding board member Paul Roy will retire from the company and be replaced as nomination and remuneration committee chair.
Roy will not stand for re-election to S4’s board, WPP (LON:WPP) founder Martin Sorrell’s advertising agency said on Monday.
Following a six-year tenure as a non-executive director and committee chair since the company was founded in 2018, Roy will be succeeded by Sue Prevezer.
Miles Young and Colin Day will also join the committee under the move, leaving it comprising the trio and Rupert Faure-Walker.
“We are sorry to see him retire from the board as he reduces his corporate commitments and workload,” Sorrell commented.
“Sue, however, will be a strong successor and we are pleased to welcome both Miles Young and Colin Day to the committee, as well as continuing to benefit from Rupert Faure-Walker's experience.”
S4 added Prevezer was a “clear choice” to succeed Roy, who is set to retire at S4’s annual general meeting in early June.
“I am pleased and proud to have been able to join Sir Martin at the start-up [and] inception of S4 Capital,” Roy commented.
“We have had our challenges, not least some very difficult and volatile markets, but Sir Martin and team have a business model, the talent and motivation to continue building a very successful business.”
Shares climbed 2.4% to 51.71p.