Robin Smith will retire from his position as chairman of the Leeds Building Society next year.
He will step down at the mutual’s next AGM, which will be held on 26 March 2013, shortly after his 70th birthday.
Smith joined the board in 1998, and on his retirement, he will have held the post of chairman for six years.
His successor will be current non-executive director Robin Ashton, who joined the board in April 2011. He qualified as a chartered accountant with Coopers & Lybrand in Leeds and has spent his career in retail financial services both in the UK and internationally.
His previous executive roles included treasurer, finance director and chief executive at Provident Financial plc, and chief executive of London Scottish Bank plc.
He is currently chairman of the Board Credit Committee and a member of the Group Risk and Assets and Liabilities Committees at the mutual.
“Despite the onset of the global economic problems, which started just after I had taken over as chairman in 2007, Leeds Building Society has grown its business, achieved good levels of profitability and increased capital and reserves to record levels,” said Smith.
“We have continued to provide a safe home for our members’ savings and helped thousands of people, many of them first-time-buyers, to purchase their own homes. This has been possible because we have a strong and sustainable business model that delivers security and value to our members, and a very talented senior management team and dedicated staff who serve those members. I have been privileged to serve the Society as its Chairman during the exceptional challenges of the last few years.”
Ashton said: “Leeds Building Society is a successful, independent member owned business with a strong well-capitalised balance sheet, and I shall be delighted to take up the role of chairman next March. We have an excellent executive team in Peter Hill, Robin Litten and Kim Rebecchi, and highly skilled staff.
“We will continue to do what we do best and provide good value for money products backed up by excellent service, deliver security and peace of mind for our savers and help members buy their own homes.”