Rank Group chairman Alex Thursby is set to step down from his role at the company’s annual general meeting on 15 October.

The search for Thursby’s replacement is already at an advanced stage, with the operator expecting to make an appointment within the next few months. In the interim period, senior independent director Karen Whitworth is standing in as interim chair.

Lucinda Charles-Jones will step into Whitworth’s role as interim senior independent director, with Keith Laslop named interim chair of the audit committee.

On his impending departure, Thursby said: “I have been privileged to serve as chair of the board of Rank for almost six years and have enjoyed the role enormously. For a number of months now, I have been reflecting on this exciting inflexion point for Rank, with the long-awaited legislative reforms for casinos now being implemented and a digital business which is beginning to scale, and I believe now is the right time to step down.

“I do so with a combination of pride in the progress we have made, including in terms of governance processes and procedures, and also with confidence that Rank is in excellent shape to write the next exciting chapter of its rich history.”

John O’Reilly, CEO of Rank Group, commented: “Alex has been a committed and talented chair, combining wise counsel, considerable experience and thoughtful leadership. I would like to thank him personally for his unwavering support and for his dedication to the Rank Group and to its stakeholders. Our recent successes and outlook are due in no small part to his sure-footed guidance and invaluable leadership.”

Whitworth added: “Alex has made a significant contribution to the Rank story. His experience and expertise have been highly valued by all board members, and the Board offers him its thanks and very best wishes for the future. I will be pleased to serve as the interim chair, following next month’s AGM, and look forward to announcing a permanent successor to Alex very soon thereafter.”

Shares in Rank Group plc (LSE:RNK) were trading 1.04 per cent lower at 132.80 pence per share in London Thursday morning.