Clayton Euro Risk has announced that Tim Keast, its chief executive, will leave the business at the end of June.

Keast has been the company’s CEO from its days as Euro Risk Management through the 2007 acquisition by Clayton Holdings, LLC.

Keast said: “I have been planning to work fewer hours for some time now, and felt the Company was in a strong position with an outstanding team of senior managers and staff to take the business forward, and that now would be a good time.”

Clayton has appointed two senior executives to the positions of Co-CEOs. Michael Bolton will manage Clayton Euro Risk’s commercial business and strategic development and will oversee the various Country Heads, and Teresa Gallagher will manage operations and delivery. They will both report, as Keast did, to Paul Bossidy, President of the U.S. entity Clayton Holdings, LLC.

Bossidy said: “I have worked with Tim for five years and I am sad to see him go. Although Tim is leaving the Due Diligence business, I am sure that he won’t be completely retired and that he will be doing something different in the future. Clayton Euro Risk has proven to be a very successful business and Tim will be leaving it in good shape as we move forward.”

Bolton added: “firstly, I’d like to add my best wishes to Tim for the future. We intend to continue the growth of the business and are excited by the opportunities to expand both our product offering and footprint in new markets and jurisdictions opening across Europe.”