The Capita Group has announced that chairman Eric Walters will stand down from 1 January, when Martin Bolland will become chairman. Executive director Paddy Doyle will move to non-executive director (NED) from 1 March.

Walters joined Capita in 2000 and was appointed chairman in 2006. Following nine years as NED and latterly chairman, Walters has decided to stand down from the board.

Bolland, who will be appointed chairman with effect from 1 January, joined the board in 2008 and was appointed senior independent director and chairman of the audit committee later that year.

The Board has also considered the number of independent NEDs, specifically with relevant financial experience, and will be recruiting to add further independent NEDs to the Board.

While this is taking place, Bolland will continue as chairman of the audit committee and senior independent director until an appropriate replacement is appointed.

Doyle joined Capita in 1992 and was appointed to the board in 1994. This year he moved to a part-time executive position continuing with client-facing activities and remaining an active member of the board.

Although he has decided to reduce his business interests further, the group is delighted that he has agreed to remain with Capita as NED.

In a statement Paul Pindar, chief executive of The Capita Group, said: “Both Eric and Paddy have made an immense contribution to Capita over the past nine and 17 years respectively and have been instrumental in Capita’s success. 

“I would like to wish Eric all the very best for the future and thank him for all his support. I am also delighted that Martin has agreed to take over as chairman. Martin’s contribution so far to the board has been invaluable and I am sure this will continue in his new role.”