THE chairman of a group tasked with managing Chester’s regeneration is to step down later this year.

Shane Flynn, who has led the publicly funded Chester Renaissance for two years, believes he has laid the foundations which will stand the organisation in good stead.

Irish-born Mr Flynn, former chief executive of Chester-based MBNA Europe, said: “It has been a privilege to lead Chester Renaissance. I was delighted to undertake the role, which I did because of my commitment to unlocking the potential of Chester to businesses, visitors and importantly residents.”

Mr Flynn, a multi-millionaire, has conducted most of his business from his American base via telephone and email but has visited about four times each year.

One of his first decisions was to appoint Rita Waters, the former head of Liverpool city centre’s Business Improvement District (BID), as his chief executive.

He added: “I am proud of the progress Chester Renaissance has made and have absolute confidence in Rita and her team that in the coming months and years Chester will go from strength to strength. I am firmly committed to remaining an active part of the renaissance of Chester.”

Renaissance, which pursues a public-private partnership approach, has been through challenging times.

But it has managed improvement works at the amphitheatre, the Walls, The Groves and HQ. It is currently consulting on a £7.5m scheme at Chester Cathedral for a new entrance and visitor centre.

This summer Renaissance is staging Rhino Mania, a trail of 70 decorated, 5ft high, fibre-glass rhinos.