Principality Building Society鈥檚 chairman has announced he is to step down in April 2021 as part of the board鈥檚 succession plan.
Laurie Adams has served as chair for seven of the eight years he has been on the board.
The search to appoint his successor will begin immediately.
Mr Adams said: 鈥淚鈥檓 so proud and privileged to have been part of this special organisation. Our business has grown from a balance sheet of 拢5bn to 拢10bn in the past eight years and has enabled us to grow our mortgage business.
鈥淭o double the size of our business over this period is a real achievement of which we should all feel very proud. We have provided thousands of mortgages to first-time buyers over the period and I鈥檓 especially proud of how we helped to transform Ely Mill from an old brownfield site to provide hundreds of new affordable houses.
鈥淚t鈥檚 also been a great pleasure to see Principality named as one of the best places to work in the 海角视频 and watch the outstanding work it does on financial education to help thousands of children in Wales.鈥
Julie Ann Haines, CEO at Principality Building Society, said: 鈥淟aurie has played a big part in overseeing our plans to grow the business and the outstanding customer service we continue to provide. His wealth of experience and knowledge has helped us to achieve this. We are grateful for everything he has done for our members and colleagues during his time at Principality and wish him all the best for the future.鈥
Mr Adams said it was a good time to make his announcement.
鈥淛ulie Ann [Haines] has now stepped up into her new role as CEO and we have a very strong board and management team in place,鈥 he added.
鈥淚鈥檓 sure Principality will continue to go from strength to strength and I want to thank all of our colleagues for their hard work and
wish them every success in the future.鈥
This summer Ms Haines became the society鈥檚 CEO. She joined the company as head of strategy and e-channels in 2007, and was the chief customer officer before making the step up.
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The Principality, which is the 海角视频鈥檚 sixth-biggest mutual, saw its total assets pass the 拢10bn mark for the first time earlier this year.
For its financial year to the end of December 2019, the mutual, which has its headquarters in Cardiff and a network of 70 branches and agencies across Wales and the Borders, saw total assets rising 拢1bn from 2018 to 拢10.7bn.
