Paragon Group's senior director to step down

Ted Tilly will step down from his role as senior independent director of the Paragon Group of Companies, the FTSE 250 group said on Friday.

Tilly, who has been a director of the company since 2008, will formally step down from the board on 1 July 2015, with Fiona Clutterbuck set to replace him..

"Ted's experience and wisdom have been invaluable and his presence on the board will be sadly missed," said group chairman Bob Dench.

"On behalf of the board, I thank Ted for his enormous contribution over the past seven years and wish him well for the future."

Paragon shares were down 0.09% to 422.60p at 1146 BST on Friday.