REG - Phoenix Group Hldgs - Board Changes

Phoenix groupAnnouncement

23/02/2022 07:00

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RNS Number : 4857C  Phoenix Group Holdings PLC  23 February 2022

LEI: 2138001P49OLAEU33T68

 

Board updates

 

The Board of Phoenix Group Holdings plc ("Phoenix Group" or "the Group")
announces the following Board changes.

 

As was previously noted in a press release dated 6 July 2021, Phoenix Group's
Chairman, Nicholas Lyons, has been nominated for the prestigious role of Lord
Mayor of the City of London beginning in November 2022 for a one-year term.
The Board is delighted that its Chairman has been recognised in this way and
has planned accordingly to enable him to take-up this full-time role. It is
therefore planned that Mr Lyons will take a sabbatical from Phoenix Group
commencing 1 September 2022 and will then return to his roles as Chairman of
the Board of Directors and Chairman of the Nomination Committee in November
2023, subject to regulatory approval. To promote clarity of leadership during
his sabbatical, Mr Lyons will formally resign from his roles on the Board for
the period of his sabbatical.

 

As a result, the Board has agreed that, subject to regulatory approval,
Alastair Barbour, currently the Group's Senior Independent Director, will
assume the role of interim Chairman from 1 September 2022 for the term of Mr
Lyons' sabbatical. The Board believes that not only is Mr Barbour the best
appointee for this interim role, but also that his longstanding knowledge and
commitment to Phoenix will ensure a consistent approach to Board matters.

 

The Board has also agreed that, subject to regulatory approval, Karen Green
will succeed Alastair Barbour as Senior Independent Director beginning after
the conclusion of Phoenix Group's 2022 Annual General Meeting on 5 May 2022.
Ms Green is the Chair of the Board Sustainability Committee and the Designated
Non-Executive Director for Workforce Engagement.

 

The Board is also pleased to announce the appointment of Katie Murray as an
independent Non-Executive Director with effect from 1 April 2022. Katie is the
Group Chief Financial Officer of the NatWest Group, a position she has held
since January 2019, having joined NatWest as Director of Finance in November
2015. She is a director of NatWest Group plc. Katie has worked in Finance and
Accounting for over 30 years. She was previously the Group Finance Director
for Old Mutual Emerging Markets, based in Johannesburg from 2011 to 2015,
having held various roles across Old Mutual since 2002. Prior to that, she
worked at KPMG for 13 years. Katie is a Chartered Accountant, having trained
in Scotland and is a member of the Institute of Chartered Accountants of
Scotland.

 

Commenting on the changes, Nicholas Lyons, Phoenix Group Chairman, said:

 

"I am very grateful that the Board, our regulators and our major investors
have been so supportive of my accepting the full-time, one year role of Lord
Mayor of the City of London, commencing in November 2022, and I look forward
to having the opportunity to help promote the UK's world-leading financial and
professional services sectors and London as the pre-eminent global financial
centre.".

 

The Board has planned thoughtfully for this situation and I am delighted that
our Senior Independent Director, Alastair Barbour, is to be appointed as
interim Chairman during my sabbatical. Alastair has been at Phoenix Group for
over eight years now and has substantial chairing experience and technical
skills, all of which make him the ideal candidate for this role. I am also
delighted that Karen Green is to be appointed as our new Senior Independent
Director to succeed Alastair. I know she will provide excellent support to
both Alastair and me.

 

I am also very pleased that Katie Murray will be joining the Phoenix Group
Board and we look forward to her bringing her wealth of experience to the
Group. Katie brings deep finance and accounting skills built through her
experience at a senior executive level across both the banking and insurance
sectors, as well as her earlier private practice background."

 

No other information is required to be notified under Listing Rule 9.6.13 R.

 

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Enquiries

Investors/analysts:

Claire Hawkins, Director of Corporate Affairs, Phoenix Group

+44 (0)20 3735 0575

Andrew Downey, Investor Relations Director, Phoenix Group

+44 (0)20 3735 0160

Media:

Douglas Campbell, Teneo

+44 (0)775 313 6628

Shellie Wells, Corporate Communications Director, Phoenix Group

+44 (0)20 3735 0922

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