Christopher Newell is to resign from the board of the Paragon Group of Companies on 31 October 2011.

He has been a non-executive director of the Company for a decade and was chairman of the Audit and Compliance Committee until July 2011.

In July 2011, Peter Hartill was appointed chairman of the Audit and Compliance Committee, Alan Fletcher replaced Edward Tilly as chairman of the Remuneration Committee and Edward Tilly was appointed as senior independent director, replacing Terry Eccles who remains on the board.

Bob Dench, Paragon Group chairman, said: “Chris has been an outstanding member of the board for the past 10 years and an excellent chairman of the Audit and Compliance Committee.