LONDON, United Kingdom — Karren Brady has resigned as non-executive chairman of Taveta Investments Limited, the holding company of tycoon Philip Green's Arcadia Group, the firm said on Monday.

Brady has been chairman since July 2017.

Taveta said Sharon Brown had also resigned as a non-executive director.

"Taveta is in active discussions with individuals who have significant relevant experience and expects to make a further announcement as to the composition of its board shortly," it said.

By James Davey; editor: Costas Pitas.