Rod Waldie, chief executive of Gateley, the first law firm to be publicly listed on the London Stock Exchange, is set to step down from his position effective August 1. The company announced that Waldie’s departure is due to health reasons.

Martin Pike, who joined Gateley as a non-executive director last year, will assume the role of interim chief executive following Waldie’s resignation.

The announcement comes shortly after Gateley disclosed plans to implement redundancies affecting both legal and business support staff. The firm is undertaking these measures in response to financial pressures, including a significant decline in its share price, which has fallen approximately 60 percent over the past year. The redundancies are part of a broader effort to stabilize the company’s operations moving forward.