CEO David Deverall has filed for resignation, Perpetual announced today. He will, however, remain with the company until his successor comes or March 31, 2011, whichever comes first.

The managing director said he resigned for personal reasons.

''After seven years and having steered Perpetual through the global financial crisis, I now believe it is time for a change,'' Mr Deverall said in a statement this morning.

"I will work closely with the senior team to ensure the transition is as seamless as possible."

According to Chairman Robert Savage, the board had accepted Mr Deverall's decision with regret. Perpetual has appointed recruiting firm Korn Ferry to conduct the search for a replacement.

''This means a robust process is being put in place to consider candidates,'' Mr Savage said.

He reaffirmed Perpetual's guidance for after-tax profit for the year to June 30 of $65 million to $75m and net profit $85m to $95m, supposing no impairments in the company's Exact Market Cash Fund or other vital items.

Mr Deverall would be entitled to his short term incentive for the year to June 30, 2010. The board will determine this benefit in the ordinary course. The resigning CEO also has a pro rata short term incentive bonus for the financial year ending June 30, 2011.

He will forfeit his unvested benefits to shares and options under his long term incentives.

Within a week, Mr Deverall is the second chief executive of a company chaired by Mr Savage to resign.

The chairman announced last Friday the departure of Mark McInnes from David Jones.