Directorate Change

RNS Number : 2074Z

Standard Life plc

12 March 2012

 



Standard Life plc

Board Changes

The Board of Standard Life plc ('the Company') announces the following changes.

Lord Blackwell will retire from the Board at the conclusion of the Annual General Meeting ('AGM') on 25 May 2012 after completing nine years service.  He has been a non-executive director of Standard Life since June 2003 and has served as the Company's Senior Independent Director since May 2008, and the chair of the Risk and Capital Committee since April 2010.  During his time on the Board, he also served as the non-executive chairman of Standard Life Assurance Limited.  Following Lord Blackwell's retirement, John Paynter, currently a non-executive director, will be appointed Senior Independent Director.

Baroness McDonagh will retire from the Board at the conclusion of the AGM on 25 May 2012 after completing five years service.  She has been a non-executive director of Standard Life since March 2007, and has chaired the Standard Life Charitable Trust ('SLCT') since 2009.  Following Baroness McDonagh's retirement, SLCT will appoint Crawford Gillies as chairman.

In addition, Lynne Peacock has been appointed as a non-executive director of the Company with effect from 1 April 2012.

Commenting on these changes Gerry Grimstone, Chairman of the Company said:

"I would like to thank both Norman Blackwell and Margaret McDonagh for their valuable contribution to Standard Life during a period of great change and development for the Company.

I am very pleased that Lynne Peacock has agreed to join our Board.  Her experience of UK financial services will be a great asset to the Board's discussions".

At the same time as she joins the Board, Lynne Peacock will be appointed as a member of the Audit, Remuneration and Corporate Responsibility Committees.  Also on 1 April 2012, John Paynter will be appointed as a member of the Audit, Remuneration and Nomination and Governance Committees.

Following these changes, the Board of Standard Life plc will comprise three executive directors, seven non-executive directors and the Chairman.  The Board will be made up of three women and eight men.  Regulatory approval for Lynne Peacock's appointment has been obtained and no other information is required to be disclosed pursuant to paragraph LR 9.6.13R of the Listing Rules of the Financial Services Authority.

13 March 2012

Enquiries:

Barry Cameron, Press Office	0131 245 4961/07515 298 642
Jakub Rosochowski, Investor Relations	0131 245 8028
Kenneth Gilmour, Group Secretariat	0131 245 0751

END

Notes to Editors

Lynne Peacock

Director's Fee
Lynne Peaock's fee as a non-executive director of the Company will be £70,000 per annum.

Interest in shares
As at the date of her appointment Lynne Peacock holds 1,615 shares in Standard Life plc.  These are held in a nominee account and represent 0.00007% of the issued share capital.

Biographical details:
Nationality:	British
Education/Qualifications:	North East London Polytechnic, BA (Hons), Business Studies
Other Non-Executive Appointments
2009 - Present	Scottish Water- Non-Executive Director
2011 - Present	Nationwide Building Society - Non-Executive Director
Career summary:
2004 - 2011	National Australia Bank Limited Various positions including CEO Clydesdale Bank plc and CEO Yorkshire Bank (2004-2011) and Executive General Manager, People & Culture, Melbourne (2004)
1983 - 2003	Woolwich plc Various positions including CEO (2000-2003), Group Operations Director (1996-2000), GM Retail Operations (1995-1996), GM Customer Services (1994-1995) and  senior marketing roles (1983-1994)

 

END

 

 

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