13th Oct 2025 10:10
(Alliance News) - Legal & General Group PLC on Monday said it has appointed Scott Wheway to succeed John Kingman as chair of the company.
The London-based asset manager and life insurance and pensions provider said Wheway will join the board on January 2, 2026 as independent non-executive director and chair designate, and will take over as chair at the end of the annual general meeting on May 21, 2026.
Wheway is currently chair of Scottish Widows Group and is a non-executive director at Edinburgh-based lender Lloyds Banking Group PLC.
Scottish Widows is an insurance brand which forms part of the wider Lloyds group.
On Monday, Lloyds confirmed Wheway will step down as a director and Scottish Widows chair at the end of October.
The bank said a process will be run to appoint the next chair of Scottish Widows, while senior independent director Chris Moulder will take over on an interim basis.
Wheway was previously chair of British Gas owner Centrica PLC between 2020 and 2024. Prior to this, he was chair of AXA UK PLC and Aviva Insurance Ltd, senior independent director of Santander UK PLC and a non-executive director of Aviva PLC.
Before this, he held executive positions including chief executive officer of Best Buy Europe, managing director of Boots the Chemist PLC and CEO in Japan for Tesco PLC.
"After a rigorous, comprehensive and global search, I am delighted to welcome Scott to the board. As well as being a great fit for L&G's culture and values, Scott brings an impressive track record of commercial success in both executive and non-executive roles across a range of industries, including in markets that are central to our growth strategy," said senior independent director Henrietta Baldock.
"On behalf of the board, I would like to thank John for his outstanding leadership and dedicated service to L&G. His wise counsel and stewardship of the company over the last nine years have been invaluable and I look forward to continuing to benefit from his leadership over the coming months."
Chair Designate Wheway added: "It is an honour to be appointed as chair designate of L&G, one the UK's most eminent and consequential companies. I look forward to working with the L&G board, Antonio and his wider leadership team, to accelerate the delivery of the group's strategy and further enhance the value L&G generates for all of its stakeholders."
Shares in L&G were up 1.2% at 238.20 pence in London on Monday morning. Lloyds shares were 1.6% higher at 84.24p.
By Michael Hennessey, Alliance News reporter
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