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RSM Tenon picks new chairman after Martin steps down

RSM Tenon has appointed former Collins Stewart Hawkpoint chairman Tim Ingram as its new chairman to replace Adrian Martin.

Ingram left Collins Stewart Hawkpoint in March. He was previously a senior independent non-executive director of the Sage Group and Savills.

Ingram’s appointment comes after RSM Tenon said last month that Martin and deputy chairman Michael Findley were both stepping down after only three months in their roles.

RSM Tenon declined to give a reason for the departures. Martin will stay with the firm until June 22 to ensure a smooth transition.

In January, RSM Tenon said it was conducting a review which may lead to restatements of its accounts to June 30, 2011 as well as certain “non-recurring, non-cash charges” in the six months to December 31, 2011, which were not included in additional expectations.

In February, the firm announced it was cutting 10 per cent of jobs as part of a restructuring programme after a loss on continuing operations of £70.6m following an impairment of goodwill of £60.7m for the last six months of 2011.

Chief executive Chris Merry says: “This is an important time for the group and I am delighted that Tim has agreed to become chairman. We continue to make good progress with our cost-reduction programme and the development of our strategic plan.”

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