- Wealth manager M&G announced that Mike Evans has stepped down as chair, with effect from 1 April, to 'concentrate on the recovery of his health' amid a stress-related illness.

He took a temporary leave of absence from his duties as chair at the beginning of the year, citing a stress-related illness.

Evans said: 'While I am making good progress on my recovery, I do not feel that I would be able to return to the business before the end of the year. I have therefore decided, in the best interests of the company and to ensure good governance, that I step down as chair.'

The company has initiated an immediate search for a new chair led by Fiona Clutterbuck, who stepped up to interim chair from senior independent director when Evans took his leave of absence.

M&G said: 'The M&G plc board thanks Mike for his significant contribution to the company over the last two and a half years and wishes him all the best for the future.'

At 1:17pm: [LON:MNG] MG PLC share price was 0p at 183.35p

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