Phoenix Group Holdings PLC Directorate Change
13 Maggio 2024 - 8:00AM
RNS Regulatory News
RNS Number : 0714O
Phoenix Group Holdings PLC
13 May 2024
LEI:
2138001P49OLAEU33T68
13 May 2024
Phoenix Group Holdings plc - Board Changes
The Board of Phoenix Group Holdings
plc ("Phoenix" or "the Group") today announces that Rakesh Thakrar
will step down from his position as Group Chief Financial Officer
("GCFO") at a date to be agreed in 2024.
Rakesh joined Phoenix in 2001 and
held various strategic and finance positions within the Group,
including Deputy Chief Financial Officer from 2014 before being
promoted to GCFO in 2020. Rakesh was central to the
acquisitions which contributed to the Group becoming the UK's
largest long-term savings and retirement business. More recently,
he oversaw a number of successful projects including the
integration of ReAssure, simplification of the strategic
partnership with abrdn and acquisition of Sun Life Financial of
Canada UK, as well as the introduction of a new financial framework
reflecting the Group's continuing pivot toward growth.
The Board will initiate a formal
process to find a permanent successor, considering both internal
and external candidates.
In the meantime, Stephanie Bruce
will join the Group on 17 June 2024 and will thereafter be
appointed as Interim GCFO, subject to regulatory approval.
She will be reporting to Andy Briggs and
will attend all Board meetings but will not become a statutory
director of Phoenix. Rakesh and Stephanie
will oversee an orderly handover ahead of him formally stepping
down once her regulatory approval is confirmed. Further
announcements will be made in due
course.
Stephanie Bruce was Chief Financial
Officer at abrdn plc until 11 May 2023 and was also a Non-Executive of Phoenix Group Holdings plc from 1
June 2022 until 11 May 2023. Previously, Stephanie was a partner at
PwC where she led the Financial Services Assurance practice and was
a member of the Assurance Executive. Stephanie is a member of the
Institute of Chartered Accountants of Scotland and an associate of
the Association of Corporate Treasurers.
Group Chief Executive Officer Andy
Briggs said: "Rakesh has been a great
colleague and his counsel, knowledge and experience have been
invaluable to Phoenix over the course of his tenure. We thank
him for his significant contribution to the Group's journey to
become the UK's largest long-term savings and retirement business,
which has included his oversight of a number of transformational
projects. I am grateful to be working with him and Stephanie during
the handover period and wish him every success for the
future."
Rakesh Thakrar
said: "I have enjoyed immensely my time
with the Company over the last 23 years and I thank all of the
colleagues I have been fortunate enough to work with. The Group is
in a strong position today as it continues on its journey from
being a closed-book life consolidator to a purpose-led retirement
savings and income business. I look forward to overseeing the
transition to Stephanie and I wish Nick, Andy, the Board and all my
colleagues at the Phoenix Group every success for the
future."
This announcement is made in
accordance with Listing Rule 9.6.11R. Further announcements will be
made in accordance with the Listing Rules 9.6.11R, 9.6.12R and
9.6.13R.
Full details of Rakesh Thakrar's
remuneration arrangements in connection with him stepping down from
the Board will be available on the Company's website in compliance
with Section 430(2B) of the Companies Act 2006 and will be
disclosed in due course in the Directors' Remuneration Report
within the Company's Annual Report and Accounts for the year ending
31 December 2024, and subsequent years, as appropriate.
ENDS
Enquiries:
Media Douglas
Campbell
Teneo
+44 (0)7753 136628
Shellie Wells, Corporate
Communications Director, Phoenix Group
+44 (0) 204 559
3031
|
Investors
Claire Hawkins, Corporate Affairs Director,
Phoenix Group +44 (0) 204 559
3161
Andrew Downey, Investor Relations
Director, Phoenix Group
+44 (0) 204 559
3145
|
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END
BOAKZGMKGZNGDZZ
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