THE boss who headed up former Saints sponsor Friends Provident is to retire in the first half of next year.

Keith Satchell, 55, who earned £766,000 last year, will be succeeded by £464,000-a-year finance director Philip Moore.

The chief executive has been a familiar figure at Southampton Football Club's £32m stadium over the years because of the life assurer's multi-million pound sponsorship links.

He was often there with club chairman Rupert Lowe, who faces losing his job next Monday if shareholders vote him out following a drawn-out boardroom battle. Satchwell is pictured on the right with Lowe in 2003.

The branding tie-up included Friends' being emblazoned on the team's kit and naming rights to the stadium.

However, the sponsorship officially ended at the beginning of this month, with the name Friends Provident removed from the stadium.

Low-cost airline Flybe, which has Southampton as its regional hub, is now the official club sponsor.

News that Satchell is to hand over the reins of power to Moore will be of particular interest to the 1,000 Friends' staff at Salisbury, including many who commute the 20 or so miles from Southampton.

Satchell achieved stock market fame five years ago when he floated Friends, which has repeatedly been the subject of takeover speculation, at 225p.

But since then the share price has dropped by nearly 35 per cent, this morning opening at 171p, valuing the company at £3.6 billion.

Satchell said: "2007 will be the right time for me personally to move on and I shall not be seeking another executive role.

"The company is in great shape and has had a strong start to 2006.

"Philip is extremely talented and will lead the Friends Provident Group to further success in the future.

"However, until the date of my retirement I am very much in post' and I remain totally committed and enthusiastic."

Satchell said Moore had been recruited three years ago with the view to being his successor, and that he had been benchmarked against the market by headhunters.