LONDON, Oct 23 (Reuters) - Vernon Hill, the founding chairman of struggling British lender Metro Bank has stepped down from his role with immediate effect, handing interim control to board member Michael Snyder.
Hill, who has agreed to accept an honorary position of emeritus chairman, will remain a non-executive director of the bank until December 31.
Snyder will serve as interim chairman until a permanent successor is appointed.
“The Board thanks Vernon for his vision which inspired and created Metro Bank ten years ago. He leaves a lasting legacy of creating fans through exceptional customer service and has revolutionised British banking,” Snyder said in a statement.
Metro is due to report third quarter earnings later on Wednesday.
Reporting By Sinead Cruise, editing by Clara Denina