THE Institute of Directors in Scotland said yesterday that David Watt would step down next April as its executive director – a role he has held for more than 15 years.

Aidan O’Carroll, who was announced as IoD Scotland’s new chair during the summer, said the organisation would shortly begin a search for candidates to succeed Mr Watt.

IoD Scotland said former PE teacher Mr Watt, who became its executive director in summer 2003 and had been a member of the organisation prior to that, planned to “find new ways to support the business community, continuing to help strengthen businesses, their leaders and the economy”.

Mr O’Carroll, senior partner at accountancy firm EY (Ernst & Young), said: “We are extremely grateful for the contribution that David has made not only to the IoD over the last 15 years, but more broadly to Scotland and its business community.

"We will shortly start the process of looking for candidates to take up this important and challenging role.”

Mr O’Carroll, a tax specialist, highlighted how much he values what Scotland has to offer when he was announced as the new chair of IoD Scotland in July. He succeeded Susan Deacon, who had completed her three-year term in the role.

In July, Mr O’Carroll said the opportunity to be a part of an organisation that could help bring greater success to Scotland was “hugely exciting”.