REG - Legal & General Grp - Legal & General Group plc Board changes

Legal & GeneralAnnouncement

12/12/2024 09:15

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RNS Number : 7576P  Legal & General Group Plc  12 December 2024

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 (mailto:investor.relations@group.landg.com)

+44 203 124 4415

Media

Natalie Whitty, Group Corporate Affairs Director

Natalie.Whitty@group.landg.com (mailto:Natalie.Whitty@group.landg.com)

+44 738 443 5692

 

Lauren Kemp, Group Head of Corporate Media & Issues

Lauren.Kemp@lgim.com (mailto:Lauren.Kemp@lgim.com)

+44 794 651 4627

 

Lucy Legh / Charlie Twigg, Headland Consultancy

LandG@headlandconsultancy.com (mailto: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.

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