The West Bromwich Building Society today announces that, due to unexpected personal circumstances, its Chairman, Mark Nicholls, has retired as Chairman and a Non-Executive Director with immediate effect. The Society has recently announced that John Maltby will succeed Mark as Chair, subject to regulatory approval. For the period until such approval is confirmed, Julie Hopes, currently Deputy Chair, will be Acting Chair.

Jonathan Westhoff, Chief Executive of the West Brom, commented:

“Mark’s contribution to the significant achievements of the Society over the last eleven years can’t be overstated. He brought together a new Board in 2010 to galvanise the recovery of the Society in the most challenging of circumstances. He has been a constant source of guidance and unwavering support for not only me personally but all of my colleagues, from which we have all benefitted hugely, over a period when the West Brom has moved from dealing with the impact of the 2008 financial crisis to a strong, purpose-led building society.

Julie Hopes, Senior Independent Director and Deputy Chair, commented:

“On behalf of the Board I would like to thank Mark for his outstanding leadership. In particular we are very grateful to Mark for agreeing to serve an extended term to allow us to bring in a number of new members to the Board and complete the search for his successor. The positive Boardroom culture that he has created has been fundamental to the Society’s many successes during his tenure. We will all miss Mark greatly and wish him a very happy retirement”