Mike Evans steps down as M&G chair

M&G said on Tuesday that Mike Evans has stepped down as chair with effect from 1 April after two and a half years to focus on his health.

Evans took a temporary leave of absence from his duties at the beginning of the year due to a stress-related illness.

He 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 investment manager - which split from parent Prudential in 2019 - said it will initiate an immediate search for a new chair, which will be led by Fiona Clutterbuck, who stepped up to the role of interim chair when Evans took his leave of absence.