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West Bromwich Building Society chairman and director Mark Nicholls is stepping down with immediate effect.
He is retiring due to unforeseen personal circumstances.
John Maltby will succeed him as chair, subject to regulatory approval.
In the interim, deputy chairperson Julie Hopes will fulfil this role.
The firm's CEO Jonathan Westhoff said: "[Mark] has been a constant source of guidance and unwavering support for not only me personally but all of my colleagues, from which we have all benefitted hugely, over a period when the West Brom has moved from dealing with the impact of the 2008 financial crisis to a strong, purpose-led building society."
At 1:16pm: (LON:WBS) West Bromwich B.s. share price was 0p at 33p