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Derbyshire CEO Peter Richardson retires early

Derbyshire Building Society chief executive officer Peter Richardson has decided to take early retirement from the society.

The Board has accepted his decision to step down and has appointed non-executive director Graham Picken to take over the role with immediate effect.

The news comes after rating agency Moody’s put the building society on watch for a possible downgrade due to its exposure to sub-prime.

Picken has held positions at HSBC including executive chairman of First Direct.

Richardson leaves the society after a career spanning ten years, including over eight years as chief executive officer.

Chairman Alan Woods says: “We wish him well for the future and thank him for his contribution to our growth and financial strength.”

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