In a letter to shareholders he says it is now time to step aside and ‘make way for new talents’.
Mr Maltwood has been a director of the company for nearly 20 years and chairman of the board for the past ten years.
‘It has been a privilege to be part of the board and helping to guide the company through an exciting period in its history,’ he said. ‘My hope is that we have struck the right balance in the often competing interests of those we serve – our customers and shareholders, our staff and the wider community.’
