Derek Netherton, Chairman of pasty vendor Greggs, has decided not to seek re-election to the board at the next annual general meeting, currently scheduled for May of next year.
He will be succeeded as Chairman by Ian Durant, currently an independent non-executive director on the Greggs board. Durant is already Chairman of property developer Capital and Counties Properties, and is a non-executive director of brewer and pubs owner Greene King and Argos-owner Home Retail Group.
Netherton has been in the chair at Greggs for more than 10 years.
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