Directorate Change

RNS Number : 6961O

Legal & General Group Plc

22 September 2011

 



Legal & general group plc

Legal & General Group Plc Board announces the planned retirement of Tim Breedon at the end of 2012

Legal & General Group Plc ("Legal & General" or "the Company") announces that Tim Breedon, Group Chief Executive of Legal & General has advised them of his intention to retire from the Company at the end of 2012.

Mr Breedon, previously, Group Director (Investments) and Deputy Group Chief Executive, was appointed to the position of Group Chief Executive on 1st January 2006. The Board will commence a process to appoint Tim's successor in due course.

Tim Breedon, Group Chief Executive, commented:

"It has been an absolute privilege to lead Legal & General, but by the end of 2012 I will have completed 25 years service with the Company and will have been CEO for 7 years. With the Company in excellent shape I feel that next year will be the right time to retire from the Company. By giving notice of this now, the Board will have ample time to plan and ensure an orderly succession."

John Stewart, Chairman of Legal & General, commented:

"Tim is and has been a first class CEO. The Company is in great shape and we are very appreciative of his excellent stewardship. I look forward to working with him in this next phase, building on this success, and in due course the appointment of his successor.

Notes

Enquiries

Investors:

Matt Hotson                              Director, Investor Relations & Strategy                  020 3124 2150

Ching-Yee Chan                        Investor Relations Executive                                020 3124 2345

Media:

John Godfrey                            Group Communications Director                           020 3124 2090

Richard King                             Head of Media Relations                                      020 3124 2095

Biography

Tim Breedon was appointed to the Board in January 2002 as Group Director (Investments) and became Group Chief Executive in January 2006. He joined Legal & General in 1987 and former roles include Managing Director (Index Funds) and Director (Index Funds). Tim is a director of the Association of British Insurers and was appointed Chairman in July 2010. Former directorships include The Investment Management Association and The Financial Reporting Council.

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