Gillian Bowler is stepping down from her role as non-executive director of Grafton, having spent 16 years on the board.

The group’s executive chairman, Michael Chadwick, said Ms Bowler had made a “very substantial contribution” in her position.

He paid particular tribute to her advice and insight.

Mr Chadwick indicated last month that he was stepping back from his executive role at the group.

Ms Bowler said in December that she was stepping down from Irish Life Permanent, where she has been chairwoman since 2004.

Shares in Grafton fell 2.3 cent to close at €3.397 yesterday.