Hanna has notified the company that he will not run for re-election at the group’s upcoming AGM in 2024.
Hanna said: “It has been a privilege to work at TRG and I will be leaving the company in great shape with the business trading really strongly, outperforming the market and making good progress on its strategic options.
“I would like to thank the board and management team, as well as our brilliant colleagues across the business for their great work and support during my time with TRG. I wish them and the group much-continued success.”
TRG said it will begin the search process to identify a new chairman and update the market “as and when appropriate.”
Hanna will remain TRG’s chairman until a new successor is appointed to ensure an orderly transition.
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TRG CEO Andy Hornby said: “On behalf of the board, I would like to thank Ken for his outstanding contribution to the business.
“He has been an exceptional chairman and a hugely valued colleague during a critically important period for TRG as we have successfully recovered from the Covid-19 pandemic and made good progress with our strategy.
“Ken’s leadership of the board will be greatly missed by all his colleagues at TRG and we wish him well.”