abrdn plc’s chief executive Stephen Bird is to leave the fund manager after four troubled years at the helm.
In a statement, abdrn said that he and the group’s board had agreed the time was right for Bird to hand over the reins.
In his time in office, Abrdn’s value has almost halved with the company regularly lampooned for a name change that saw the vowels removed from Aberdeen, its previous name.
Pete Branner, the company’s chief investment officer, recently complained the company has been the subject of "corporate bullying" over the name change.
One jibe is that the company has been suffering from “irritable vowel syndrome” ever since the name change.
Bird was also criticised recently for receiving an £800,000 bonus while sacking hundreds of staff.
Jason Windsor, who is stepping up from chief financial officer to become interim CEO, was also criticised for his £675,000 salary with one proxy firm urging institutional shareholders to vote against it at the recent AGM.
Bird, said: "I am immensely proud of the work we have done together to simplify abrdn and position the company for sustainable growth.”