Legal & General Group Plc Sir John Kingman to take up Chairman Appointment (7646M)
October 18 2016 - 1:00AM
UK Regulatory
TIDMLGEN
RNS Number : 7646M
Legal & General Group Plc
18 October 2016
Sir John Kingman to take up Group Chairman Appointment on 24
October 2016
18 October 2016
The Board of Legal & General Group Plc ("Legal &
General" or the "Company") announces that Sir John Kingman will
take up his appointment as Group Chairman of Legal & General
with effect from 24 October 2016. Rudy Markham, Interim Chairman,
will remain on the Board as non-executive director until the AGM in
2017.
Rudy Markham, Interim Chairman, said:
"On behalf of the Board, I welcome John as our new Chair. Legal
& General is an exceptional company and it has been my
privilege to serve the Board and Company in a variety of roles
during my tenure."
Julia Wilson, Senior Independent Director, added:
"I wish to thank Rudy for his wisdom, guidance and stewardship
during his years on the Board and particularly for assuming the
Chairmanship over the last few months. The Board is very grateful
for Rudy's leadership."
No other information is required to be disclosed pursuant to
paragraph 9.6.13R of the Listing Rules of the Financial Services
Authority in relation to John's appointment as a director of the
Company.
END
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:
1. Sir John Kingman will assume the role of Chairman on 24
October 2016. His annual fee as Chairman will be GBP450,000.
2. Biography: Sir John Kingman has had an extensive Whitehall
career, culminating as Second Permanent Secretary of HM Treasury,
where his responsibilities variously included serving as Managing
Director of the Finance and Industry Directorate, and Managing
Director of the Public Services and Growth Directorate. He was also
CEO of UK Financial Investments, with responsibility for managing
the Government's shareholdings in Lloyds Bank Plc, Royal Bank of
Scotland Plc, and Northern Rock Plc. He has spent time in the
private sector as a managing director of NM Rothschild, where he
was global co-head of the Financial Institutions Group.
3. The appointment is for an initial five year term and the
Board may wish to reappoint him for additional period(s). The
appointment remains subject to annual re-election by
shareholders.
4. Rudy Markham will stand down from the Board of Directors on
25 May 2017.
Legal & General Group Plc:
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 GBP12.4bn (as at 17
October 2016) and is responsible for investing GBP841.5bn worldwide
(as at 30 June 2016) on behalf of investors, policyholders and
shareholders. 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. In 2015, Legal & General's operating
profit (on the IFRS basis) was GBP1,455m and adjusted earnings per
share were 18.58p for the period, an increase of 14% and 11%
respectively.
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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