Countrywide's Chairman steps down for 'personal reasons'

8th Nov 2013 09:07

Countrywide Chairman Bob Davies is stepping down from his role for "personal reasons", the property group announced on Friday.David Watson, independent Non-Executive Director of the company and Chairman of the Audit and Risk Committee, will act as interim Chairman with immediate effect.Davies led the firm's successful initial public offering (IPO) in March when shares soared on the first day of trading. "The board would like to thank Bob for his significant contribution to the group, both during the IPO process and in the early stages of Countrywide's life as a public company."Shares fell 2.26% to 540.50p at 09:14.RD