Michael Queen steps down from 3i

Queen will leave the business when a successor is appointed. 3i stated the board has started a process to identify and appoint a new CEO.

Queen joined 3i in 1987, became executive director in 1997 and later CEO in 2009. Commenting on his decision, he said in a statement: "It has been a privilege to lead such an outstanding organisation as 3i. I am pleased that after a difficult period 3i is now well placed to achieve its full potential. Having restored 3i's financial strength the time is right for me to seek a new challenge and for 3i to appoint a new leader to build on this position."

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