After having served seventeen years in office, non-executive chairman Alastair Lyons is to stepdown from his role atop of Admiral. Having helped the company through a major transition with the floatation of its shares on the London Stock Exchange in 2004, Lyons will be leaving right before another major transition for the company. Admiral is the only FTSE 100 company based in Wales, but this might be temporary, given Brexit and the impact that would have on its European insurance business. “It has been fantastic to have been on the journey with Admiral since the management buy-out, a journey which I am confident will continue to deliver sustained success,” said Lyons.
The way the business has developed has been astonishing and a tribute to a great team that has created a culture that breeds innovation, the drive and ability to succeed, openness and transparency. I shall miss it, and them, greatly.”
The company’s chief executive David Stevens added “There are very few people who deserve as much credit for Admiral’s success over the last sixteen years as Alastair.” The company is considering a move to Ireland or another country within the EU, which could be problematic for the city of Cardiff. Under the chairmanship of Alastair Lyons, the Admiral Group, which is Wales’ largest private business, has played an integral part in the transformation of Cardiff’s services sector,” said Chris Sutton, Chair of Central Cardiff Enterprise Zone.
“When he took up this post in in 2000, Cardiff was transitioning from a maritime trade city to the financial and professional services hub which now employs 40,000 people and has an economic output in excess of £2 billion.”