Nick Tweddell, who has been closely associated with Ian Salisbury's campaign to pare back the board's activities, has thrown his hat into the ring.
However, he will also face stiff opposition from Alan Crane, a construction industry consultant, who has also decided to stand in the election.
Tweddell, who is being seconded by Salisbury himself and Paris-based board member Christopher Stead, said he was 'determined that Lloyd should not be re-elected unchallenged'.
'It is extremely important that we have a debate on this subject and make sure that Humphrey is not allowed to sail though unopposed,' Tweddell said.
The election, which is restricted to other members of the board, will take place on 17 February.