Legal & General Group Plc Directorate Change (9048C)
04 October 2018 - 4:00PM
UK Regulatory
TIDMLGEN
RNS Number : 9048C
Legal & General Group Plc
04 October 2018
Legal & General Group Plc Board announces the appointment of
Henrietta Baldock as non-executive director of Legal & General
Group Plc on 4 October 2018, the stepping down of Carolyn Bradley
on 31 December 2018 and the appointment of Lesley Knox as
designated non-executive director for engagement with the Company's
workforce
The Board of Legal & General Group Plc (the "Company") is
pleased to announce the appointment of Henrietta Baldock as
independent non-executive director of the Company with effect from
the date of this announcement.
Henrietta is currently Chair of the Company's principal
operating subsidiary, Legal & General Assurance Society Limited
(LGAS). Henrietta brings to the Board further extensive knowledge
of the financial services and insurance sectors through her 25
years' experience in investment banking, most recently as Chairman
of the European Financial Institutions team at Bank of America
Merrill Lynch. Henrietta will continue to chair LGAS following her
appointment to the Board.
Henrietta will join the Audit, Nominations, Remuneration and
Risk Committees on appointment.
The Company also announces that Carolyn Bradley has advised the
Company of her intention to step down from the Board at the end of
the year.
The Company is also pleased to announce the appointment of
Lesley Knox as designated non-executive director for engagement
with the Company's workforce, in line with the provisions of the UK
Corporate Governance Code (July 2018), with immediate effect.
Lesley is currently Chair of the Company's Remuneration Committee
and so is well-placed to engage effectively with the Company's
workforce.
Sir John Kingman, Group Chairman, said:
"I am delighted to welcome Henrietta to the Group Board.
Henrietta will be a valuable addition to the Board and I look
forward to working with her more closely."
"I would like to thank Carolyn for her important contribution to
the Board over the last four years. The Board wishes her well in
her next ventures."
"I am pleased to announce that Lesley Knox has been appointed as
the designated non-executive director for engagement with the
Company's workforce. Lesley is already involved with the Company's
approach to investing in and rewarding our workforce in her
capacity as Chair of the Remuneration Committee. The Board welcomes
the early adoption of this governance model and Lesley's
appointment."
Lesley Knox said:
"I am delighted to be taking on this new Group Board role with
specific responsibility for Legal & General's employees. Taking
proper account of their interests, alongside those of other
stakeholders, is an important part of our Board culture, and this
can only be strengthened further by creating a specific
responsibility for employee issues on the Group Board. This will
enable us to ensure that the issues that matter most to our
employees are given the full attention of the Board at all
times."
ENDS
Notes to Editors
Legal & General Group Plc
The Legal & General Group, established in 1836, is one of
the UK's leading financial services companies. As at 31 December
2017, we had over 9.5 million customers in the UK for our life
assurance, pensions, investments and general insurance plans and
over 1 million life insurance customers in the US.
Over fifteen million people worldwide rely on us to help them
save for the future and to protect their families and their
homes.
Financial details
Legal & General has a market capitalisation of GBP15.3
billion (as at 3 October 2018) and is responsible for investing
GBP985 billion worldwide (as at 30 June 2018) on behalf of
investors, policyholders and shareholders.
UK Corporate Governance Code
The 2018 UK Corporate Governance Code (the "2018 Code")
recommends that companies engage with their workforce using one or
a combination of the following methods:
-- a director appointed from the workforce;
-- a formal workforce advisory panel;
-- a designated non-executive director.
Legal & General has opted to appoint a designated
non-executive director.
The 2018 Code will apply to accounting periods beginning on or
after 1 January 2019.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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