London Capital Group has announced that its non-executive senior independent director and former chairman Giles Vardey has agreed to step down from the company’s board at the end of this year.

Vardey joined the company as a non-executive director in May 2012, taking over as chairman in August later that year following the departure of Richard Davey.

Vardey stepped down as chairman in September earlier this year, and was replaced by Charles Henri-Sabet. At the time, he said he would remain on the company’s board as a non-executive senior independent director.

Vardey has now decided however to resign his role and step down from the board with effect from December 31st.

“On behalf of the board and the wider management team I would like to thank Giles for his sustained support for the group since he joined as a non-executive director more than two years ago and his leadership as chairman through a period of transition for the business,” said Henri-Sabet. “We are pleased that Giles' services will be available until the end of this year when he formally steps down.

“The board of LCG will be announcing details of a new enlarged and strengthened management team in due course.”

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