REG - Legal & General Grp - Directorate Change

Legal & GeneralAnnouncement

07/03/2022 07:00

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RNS Number : 7766D  Legal & General Group Plc  07 March 2022

 

Legal & General Group Plc Board announces the appointment of Tushar
Morzaria as a non-executive director of Legal & General Group Plc

 

7 March 2022

 

The Board of Legal & General Group Plc (the "Company") is pleased to
announce the appointment of Tushar Morzaria as an independent non-executive
director of the Company with effect from 27 May 2022. Tushar will join as
Chair of the Group Audit Committee upon appointment and will also join the
Group Risk Committee, the Group Remuneration Committee and Group Nominations
and Corporate Governance Committee.

 

Mr Morzaria has extensive financial services experience, including eight years
as the Group Finance Director of Barclays PLC and, prior to that, as the Chief
Financial Officer of Global Investment Banking at JP Morgan Chase & Co. Mr
Morzaria will retire from his position at Barclays PLC prior to joining the
Company.

 

The Board further wishes to announce that following his recent appointment as
the Chair of Age UK, Toby Strauss has decided to step down as a non-executive
director of the Company with effect from 29 April 2022 after more than five
years of service. Sir John Kingman will assume the role as the Chair of the
Group Risk Committee on a temporary basis upon Toby's departure pending the
appointment of his successor.

 

Sir John Kingman, Group Chairman, said:

 

"I am delighted to welcome Tushar to the Group Board. He brings with him a
wealth of expertise in financial services and transformation. I very much look
forward to working with Tushar and welcoming him to the Board in May. I would
like to thank Philip Broadley for his outstanding stewardship of the Group
Audit Committee over the past six years and for his continuing counsel in his
role as Senior Independent Director.

 

I would also like to take this opportunity to thank Toby for his significant
contributions to the Board during his tenure. It has been a great pleasure to
work alongside Toby and we wish him all the best for the future."

 

Mr Morzaria is currently a non-executive director of BP plc and the chair of
its audit committee. There are no details or disclosures required under LR
9.6.13R of the Financial Conduct Authority's Listing Rules.

 

 

 

Notes to Editors

Legal & General Group Plc

 

Established in 1836, Legal & General is one of the UK's leading financial
services groups and a major global investor, with over £1.3 trillion in total
assets under management of which a third is international. L&G also
provides powerful asset origination capabilities. Together, these underpin our
leading retirement and protection solutions: we are a leading international
player in pension risk transfer, in UK and US life insurance, and in UK
workplace pensions and retirement income. As at 4 March 2022, Legal &
General has a market capitalisation of £14.55 billion.

 

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