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News
Portman Group chairman to step down
The Portman Group has today confirmed that chairman Seymour Fortescue will step down on 18 June, after four years in the role.
Fortescue will step into a new role as the first chairman on the Short-term Lending Compliance Board, a new independent body that has been set up by the payday lending trade body, the Consumer Finance Association (CFA). The new board is tasked with raising the standards within the payday lending industry.
Commenting on his departure, Fortescue said: “It has been a great privilege to be involved with the alcohol industry over the past four years and I have genuine respect for the efforts of alcohol producers to market their products responsibly.
“Alcohol affects national politics, corporate policy and society as a whole and it has been fascinating to play a small part in that debate and to champion effective self-regulation by the industry.”
Fortescue is a former chief executive of the Banking Code Standards Board and the Portman Group said that his successor “will be announced in due course”.