Rank Group chairman Ian Burke has notified the company that he will not seek re-election at the next annual general meeting in October.
Burke has served as chairman of the London-listed gaming operator since 2011, having joined the company in 2006 as chief executive officer.
“I have enjoyed my time at Rank immensely and am extremely proud of what we have achieved as a company,” said Burke. “I have decided to step down as chairman in the knowledge that Rank has a strong management team and board which will take the business forward through its transformation programme.”
The search for Burke’s replacement will be led by senior independent director Chris Bell.
John O'Reilly, chief executive of Rank Group, commented: "Ian has played a key role at Rank for many years. I would like to thank him personally for his invaluable support and counsel since I joined the company last year.”
The company also announced Wednesday that chief financial officer Bill Floydd will join the board of directors with immediate effect.
Shares in Rank Group plc. (LSE:RNK) were trading 0.23 per cent lower at 159.63 pence per share in London early Wednesday morning.