Vince Ingham is retiring earlier than expected from Belco and a search is on for his successor here and abroad.The Board of Directors of Ascendant Group today said Mr Ingham, the company’s president and CEO, will retire at the end of this month, after more than 25 years with the group.Mr Ingham, the PLP’s candidate for Pembroke West, was due to retire in March. He was recently appointed to the Senate.Ascendant Group chairman Michael Collier noted that the Board has engaged the search firm of Heidrick and Struggles and global management consulting firm Oliver Wyman to find a successor, and assist with “leadership development plans for the group executive and management teams”.Mr Collier said the Ascendant Board will be considering both internal and external candidates for the posts of president and CEO.He said in a statement: “Vince is largely responsible for the strategic initiatives on which the Group is currently focused.“These initiatives were adopted by the board of directors on December 2, 2011 and they are to grow existing energy-related businesses and investment in utility and infrastructure companies in Bermuda, as well as expand the earning base of the Ascendant Group of Companies.”Mr Collier on behalf of the Board thanked Senator Ingham for his service to the Ascendant Group, which owns Belco.