(Reuters) - British hedge fund manager Man Group Plc (EMG.L) will announce the resignation of the company’s President Jonathan Sorrell on Wednesday in a statement to the London Stock Exchange, Sky News reported late on Tuesday, citing sources.
Sorrell's decision to quit comes days after The Times newspaper reported that Man Group Chairman Lord Livingston of Parkhead is considering a departure from the company amid tensions with Chief Executive Officer Luke Ellis, the report said. (bit.ly/2A96O76)
Sky News also reported that Sorrell’s departure was entirely unconnected to other potential boardroom changes at the company.
Man Group declined to comment on the Sky News report.
Reporting by Aakriti Bhalla in Bengaluru; Editing by Dan Grebler