Legal &
General Group Plc
Stock
Exchange Release
12 December
2024
Legal & General Group plc Board
changes
Legal & General Group plc
("Legal & General" or the "Company") announces the following
board changes as part of the Board's longer-term succession
planning:
·
Henrietta Baldock to be appointed as Senior
Independent Director ("SID") designate.
·
Mark Jordy to be appointed as independent
Non-Executive Director of Legal & General Group plc.
·
Lesley Knox and Philip Broadley to retire as
Non-Executive Directors at the end of their nine-year tenure on the
Board.
·
Carolyn Johnson to be appointed as Designated
Workforce Director.
Lesley Knox and Philip Broadley will
each have completed nine years as Non-Executive Directors of the
Company in 2025. As such, Lesley will be retiring from Legal &
General on 21 May 2025, and Philip will be retiring on 31 August
2025. Lesley and Philip have both at separate stages held the role
of SID for the Company; Lesley also held the role of Remuneration
Committee Chair and chaired the Company's principal operating
subsidiary in the Asset Management division, Legal & General
Investment Management (Holdings) Limited (LGIM(H)), and Philip also
held the role of Audit Committee Chair.
In anticipation of Lesley's
retirement from the Board, Henrietta Baldock will succeed Lesley as
SID with effect from 21 May 2025. Henrietta joined the Board in
October 2018 as a Non-Executive Director and is a member of the
Group Nominations and Corporate Governance, Remuneration and Risk
Committees. Henrietta is also chair of the Company's principal
insurance operating subsidiary, Legal & General Assurance
Society Limited (LGAS). As SID designate, Henrietta will lead the
Board succession process for the Chair.
In addition, Mark Jordy has agreed
to join the Board of Legal & General as a Non-Executive
Director with effect from 1 July 2025. Mark is currently Chair of
LGIM(H). He brings to the Board significant experience in asset
management through his executive and non-executive career, and will
bolster the Board's oversight of Legal & General's growth plans
for the Asset Management business. Mark previously held a variety of roles at Wellington Management
Company, including Chief Executive, EMEA Office.
He currently serves as a Non-Executive Director
for LGT, a European private bank, and LGT Capital Partners, a
global alternatives manager. Mark will continue to chair LGIM(H)
following his appointment to the Board, and will join the Group
Nominations and Corporate Governance, Remuneration and Risk
Committees on appointment.
Carolyn Johnson will be appointed as
the Company's designated Non-Executive Director for engagement with
the Company's workforce on 1 April 2025, taking over from Nilufer
Kheraj when Nilufer's three-year term in the role comes to an
end.
There is no additional information
required to be disclosed in relation to Mark Jordy pursuant to UKLR
6.4.8 of the Listing Rules of the UK Financial Conduct
Authority.
Sir
John Kingman, Group Chair, said:
"I am delighted to welcome Mark to
the Group Board. Mark has been the Chair of our Asset Management
business for a year now, and on the LGIM(H) board for three, and
brings deep experience in asset management from his executive and
non-executive career. This will reinforce the Board's oversight as
Legal & General executes its strategy, in particular the focus
on growth in public and private markets, and I very much look
forward to working with him in his new capacity as Group Board
non-executive director.
I want to thank Lesley and Philip
for their service to the Company over the last nine years. The
Board has benefited hugely from their extensive knowledge and
experience, and they have helped to steer the Company into a
position of strength from which it can deliver against its
strategic goals on behalf of its shareholders, customers and
people.
Henrietta has made a terrific
contribution to the Board over the last six years, and I am looking
forward to working with her in her new role."
-END-
Enquiries
Investors
Gregory Franck, Investor Relations
Director
investor.relations@group.landg.com
+44 203 124 4415
Media
Natalie Whitty, Group Corporate
Affairs Director
Natalie.Whitty@group.landg.com
+44 738 443 5692
Lauren Kemp, Group Head of Corporate
Media & Issues
Lauren.Kemp@lgim.com
+44 794 651 4627
Lucy Legh / Charlie Twigg, Headland
Consultancy
LandG@headlandconsultancy.com
+44 20 3805 4822
About Legal & General
Established in 1836, Legal &
General is one of the UK's leading financial services groups and a
major global investor, with £1.2 trillion in total assets under
management (as at HY24) of which c40% (circa £0.5 trillion) is
international.
We have a highly synergistic
business model, which continues to drive strong returns. We are a
leading international player in Institutional Retirement, in Retail
Savings and Protection, and in both public and private markets
through our Asset Management division. Across the Group, we are
committed to responsible investing and dedicated to serving the
long-term savings and investment needs of customers and
society.
As at 11 December 2024, Legal &
General has a market capitalisation of 13.7 billion.
