Legal & General Group Plc Directorate Change (8598U)
24 Januar 2017 - 11:30AM
UK Regulatory
TIDMLGEN
RNS Number : 8598U
Legal & General Group Plc
24 January 2017
Directorate Change
Legal & General Group Plc (the "Company" or "Legal &
General") has today announced that Toby Strauss will succeed
Richard Meddings as Chair of the Group's Risk Committee from 9
March 2017. This follows Richard advising the Board that he intends
to step down from the Board following the conclusion of the AGM on
25 May. He will remain a member of the Risk, Audit and Remuneration
Committees until he steps down.
Toby joined the Board on 1 January 2017 and became a member of
the Audit and Risk Committees. Toby has extensive experience
following an executive career in financial services which included
Group Director of Insurance and Chief Executive of Scottish Widows
at Lloyds Banking Group, and prior to that Chief Executive of the
UK Life business of Aviva.
Sir John Kingman, Chairman of Legal & General, said:
"Richard has been an outstanding Chair of the Risk Committee and
member of the Audit and Remuneration committees. On behalf of the
Board I would like to thank him for the breadth of his contribution
and for his strong and wise counsel."
ends
For further information, please contact:
Investors:
Laura Doyle Head of Investor Relations 020 3124 2088
Sujee Rajah Investor Relations Manager 020 3124 2047
Media:
Richard King Head of Group Corporate Communications 020 3124
2095
Notes to editors:
Legal & General Group Plc:
1. Richard Meddings was appointed to the Board in December 2014.
Richard is a qualified chartered accountant and has over 30 years
of banking and financial services experience, most recently having
spent 12 years on the board of Standard Chartered and almost eight
years as finance director. Previously, Richard was group financial
controller at Barclays and was also chief operating officer for the
Wealth Management, Premium Retail and Life Assurance businesses. He
has also served on the board of Woolwich as group finance director
and as a non-executive director at 3i where he was the senior
independent director and chair of the audit committee. Richard is
also on the Board of Teach First, a charity committed to ending
educational inequality.
Richard is currently non-executive director and chair of the
audit committee of Deutsche Bank, non-executive director and chair
of the audit committee of HM Treasury and Member of the Governing
Council of the International Chamber of Commerce, UK
2. Established in 1836, Legal & General is a leading
provider of insurance, savings and investment management products
in the UK. The Group has a market capitalisation of GBP14.2bn (as
at 20 January 2017) and is responsible for investing GBP841.5bn
worldwide (as at 30 June 2016) on behalf of investors,
policyholders and shareholders.
3. Legal & General has over seven million customers in the
UK for life assurance, pensions, investments and general insurance
plans and over one million customers in the US who rely on us for
life assurance.
4. In 2015, Legal & General's operating profit (IFRS basis)
was GBP1,455m and adjusted earnings per share were 18.58p for the
period, an increase of 14% and 11% respectively. For H1 2016 Legal
& General's adjusted operating profit was GBP822m, an increase
of 10%, profit before tax attributable to equity holders was
GBP826m, an increase of 23%, adjusted earnings per share were
11.20p for the period, an increase of 14%, and net cash generation
of GBP727m, an increase of 16%.
For more information on Legal & General, please see
http://www.legalandgeneralgroup.com/
Forward-looking statements
This announcement may contain certain forward-looking statements
relating to Legal & General, its plans and its current goals
and expectations relating to future financial condition,
performance and results. By their nature, forward-looking
statements involve uncertainty because they relate to future events
and circumstances which are beyond Legal & General's control,
including, among others, UK domestic and global economic and
business conditions, market related risks such as fluctuations in
interest rates and exchange rates, the policies and actions of
regulatory and Governmental authorities, the impact of competition,
the timing impact of these events and other uncertainties of future
acquisition or combinations within relevant industries. As a
result, Legal & General's actual future condition, performance
and results may differ materially from the plans, goals and
expectations set out in these forward-looking statements and
persons reading this announcement should not place reliance on
forward-looking statements. These forward-looking statements are
made only as at the date on which such statements are made and
Legal & General Group Plc does not undertake to update
forward-looking statements contained in this announcement or any
other forward-looking statement it may make.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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