Lancashire board members step down

Two members of the board of directors at Lancashire are set to retire after nine years of service.

William Spiegel and Robert Spass will retire, with effect from January 1, 2015.

Martin Thomas, Lancashire's chairman, said: "William and Bob have been valued members of our board since the company's formation in 2005.Their industry experience and keen strategic minds have played no small part in helping to establish Lancashire as a successful and respected leader within its field.

“Both have provided insightful leadership and service on the board and its committees. Lancashire has reached a point in its development where, in the interests of formal independence, the baton has been passed from the founding generation to a new board and management team.

“Having welcomed Peter Clarke to our board in June of this year, we expect to be able to announce a further NED appointment shortly. As we bid William and Bob farewell, I am confident that we will sustain a board with the appropriate range and depth of knowledge and skills to provide support, challenge and strategic insights for the business."