This will be a relief to friends of Swire, who could never understand why the smooth former Grenadier Guard was demeaning himself by volunteering to referee the constant internal squabbles at the company.
Some speculated that the MP for East Devon's motivation to stay in the chairman's role might have been that he is not a man of massive means (despite being a scion of the Swire shipping dynasty) and certainly Swire's £120,000 salary was an attractive one for a part-time role at a small company.
He will now take the £40,000 minister of state top-up to his parliamentary salary instead - which seems fair. The spats in Northern Ireland aren't nearly as taxing to sort out as those at Photo-Me.
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