Directorate Change

RNS Number : 8623K

Standard Life plc

27 April 2010

 



Standard Life plc

Standard Life appoints Chief Financial Officer

Standard Life plc ('the Company') today announces that Jackie Hunt has been appointed Chief Financial Officer and an executive director of the Company with effect from the conclusion of the Company's Annual General Meeting on 14 May 2010.

Jackie joined Standard Life in January 2009 as Deputy Group Finance Director.  Prior to joining Standard Life, she held senior management roles at Aviva, where she served as Norwich Union's Chief Financial Officer and at Royal & Sun Alliance where she served as Deputy Director Capital Management.  Previously, she was Director Global Capital Markets at PricewaterhouseCoopers, having qualified as a Chartered Accountant in South Africa with Deloitte & Touche.

David Nish, Chief Executive, commented:

"Jackie has extensive experience in financial services and a detailed understanding of the sector.  These attributes make her ideally placed to help us lead Standard Life at this exciting stage in its development.  I am delighted for Jackie and look forward to the contribution she will make in her new role".

Jackie Hunt commented:

"Standard Life is going through a period of dynamic change and I am very pleased to be given this opportunity to work alongside David and the team as Chief Financial Officer at this exciting time".

Following this appointment, the Company's Board will comprise three executive directors and eight non-executive directors, including the Chairman.  The Financial Services Authority has approved this appointment and no other information is required to be disclosed pursuant to paragraphs LR 9.6.11R and LR 9.6.13R of the Listing Rules.

27 April 2010

Enquiries:
Barry Cameron, Media Relations	0131 245 6165
Nicola McGowan, Media Relations	0131 245 4016
Gordon Aitken, Investor Relations	0131 245 6799
Kenneth Gilmour, Group Secretariat	0131 245 0751

END

Notes to Editors 2010 AGM
1.	On 14 May 2010, Jackie will attend Standard Life's 2010 AGM to support the Directors of the Company in her role as Interim Chief Financial Officer.
2.	Jackie's appointment was approved by the Board on 27 April 2010 following a rigorous process involving external advisors.  The 2010 AGM mailing to shareholders began on 1 April 2010.  It was therefore not practical to include a Resolution in respect of Jackie's election as a Director.  Her appointment is effective from the conclusion of the Company's 2010 AGM and Jackie will be submitted for election at the 2011 AGM.

New service contract
1.	Jackie's basic salary will be £475,000 per annum.
2.	Bonuses are paid annually subject to performance.  The target level of bonus payable under the Short Term Incentive Plan ('STIP') will be 55% of salary and the maximum level will be 135%.  Under the Long Term Incentive Plan ('LTIP'), the target and maximum values of shares as at the date of grant will be 62.5% and 125% of salary.  Any bonuses paid or deferred will be subject to such clawback provisions as determined by the Remuneration Committee.

Interest in shares
1.	As announced on 17 March 2010, Jackie's current holding of ordinary shares in the Company is 13,284.  As announced on 7 April, she has also been granted a maximum of 247,978 shares under existing STIP and LTIP awards.

Jackie Hunt
Biographical details:
Nationality:	British
Education/Qualifications:	University of Witwatersrand
	Institute of Chartered Accountants of South Africa
Career summary:
2009-present	Standard Life plc Interim Chief Financial Officer Deputy Group Finance Director
2003-2008	Aviva Chief Financial Officer, Norwich Union Group Finance Director, Hibernian Corporate Office Finance Director Director of Group Financial Reporting
1999-2003	Royal & Sun Alliance Deputy Director Capital Management
1995-1999	PricewaterhouseCoopers Director Global Capital Markets Senior Manager

 

END

 

 

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