Under his five year time as CEO the society has grown its assets to over £8bn and delivered strong financial results.
Principality’s gross mortgage lending rose by 20% from £1bn in 2014 to £1.2bn last year.
Yorston (pictured) said: “This had been one of the hardest decisions I have ever made as my passion for this great business is as strong as the day I joined, if not stronger. However, after almost 43 years of work, I think it is now time to move to the next phase of my life spending more time with my wonderful wife and growing family, including three grandchildren.”
Laurie Adams, chairman of the Principality, said: “I am very sorry that Graeme has decided to step down but understand his reasons for doing so. Graeme has led this business through a hugely successful period and exemplifies the mutual sector values. He will be a difficult act to follow. A search for his successor has commenced.”
Yorston will remain as CEO until a successor has been found.
