Hargreaves Lansdown Plc (LON: HRGV) has announced that CEO Chris Hill will be retiring from the company next year. The company informed us that Hill will remain in the role until November 2023. Shares of the company fell by more than 6 per cent following the announcement.

Hargreaves Lansdown’s chairperson Deanna Oppenheimer said that Chris has successfully led the company through a period of significant change. He is leaving Hargreaves Lansdown as a stronger company with a clearly defined strategy that the Board fully supports.

Chris Hill has served as CEO and executive director of the fund’s supermarket for six years after joining the group as a chief financial officer in 2016. Lately, he laid out a five-year £175 million plan to refocus the business on providing an improved investment platform and a tech-based financial advisory service.

Founded in 1981, Hargreaves Lansdown plc is a British financial service company. Headquartered in Bristol, it sells funds, shares and related products to retail investors in the United Kingdom.
The company’s revenue during the three months to September 30 rose by 15 per cent compared to the same period last year to £162.9 million. The company currently has more than 1.7 million total active clients.