Dr Hugh Hart is set to retire as chairman of the PROVEN Group Ltd at the end of next month.

According to PROVEN, Hart notified its board of directors in their meeting last Thursday (February 9) that he will be retiring as a director and chairman of the board effective March 31.

Hart served in his capacity as a non-executive independent director and chairman of the Board since PROVEN’s inception 13 years ago and combined his vast legal and financial sector experience with deep humility, compassion and notable wisdom.

Hart, in his announcement, said: “I am truly thankful to have been a part of this stellar company and to have meaningfully contributed to the growth and development of what is now a formidable regional brand.”

He continued: “I would like to acknowledge our over 300 strong employees, our board of directors and its important sub-committees for their commitment and dedication to the company’s vision, values and principles. To our shareholders and all partners, you have my sincerest gratitude for the confidence you’ve shown in my stewardship over the years. Thank you all and know that the work will continue with the same passion and fervour for outstanding results. Let’s all keep delivering on what we have started. Walk good.”

PROVEN, as part of its governance and succession planning, had made provisions for a deputy chairman in its board structure over two years ago. Rhory McNamara, who is currently the deputy chairman, director and company secretary, will assume the role of chairman of the board, effective March 31.

McNamara has been a director of PROVEN since January 2010 and also sits on the boards of several other prominent private and public regional companies.

PROVEN noted that he has been instrumental in guiding the company’s affairs as an eminent St Lucia-based attorney at law and licensed corporate/secretarial service provider.

In acknowledging his new role, McNamara said: “My focus will be to continue the well-informed stewardship and oversight provided by the Board under Mr Hart’s distinguished leadership. On behalf of all our stakeholders – Thank you Mr Hart for the solid blueprint and legacy on which we will build.”