2 December 2019

Principality Chief Executive resigns to take up new role

Principality Building Society has today announced that their Chief Executive Officer Steve Hughes has resigned after accepting an offer to become Chief Executive Officer at Coventry Building Society.

Principality’s Chief Risk Officer, Mike Jones, has been appointed by the Board as Interim Chief Executive Officer with immediate effect. Mike has more than 40 years’ experience in the finance industry and has been with Principality for more than 20 years and has been a Board member for the past six years.

Mr Hughes joined Principality eight years ago and was previously Group Finance Director before becoming Chief Executive Officer in March 2017.

Principality’s Chairman, Laurie Adams, said: “While I’m sorry to see Steve move on, I’m also very grateful for all that he’s contributed to our organisation. Under his leadership the Society has grown to more than £10bn in assets, delivered consistently strong financial results and excellent customer service for the benefit of all our Members. He leaves the business in great shape, with a strong executive team in place who will continue the excellent work of the last few years. A search for his permanent successor will now commence.”

Published: 02/12/2019