2nd May 2018 10:42
LONDON (Alliance News) - Closed life funds consolidator Phoenix Group Holdings on Wednesday said Chairman Henry Staunton is to step down at the end of August.
He will remain in his post after that date if a successor has not been found by then, Phoenix added.
Staunton is currently non-executive chairman at books and stationery retailer WH Smith PLC and also a non-executive director at property company Capital & Counties Properties PLC.
He was also finance chief at broadcaster ITV PLC from 2003 to 2006 and in the 1990s was in the same role at Granada PLC.
Senior Independent Director Ian Cormack, who has left the board Wednesday as previously announced, said: "The board would like to thank Henry for his outstanding contribution to Phoenix. The board has benefited from his significant expertise and judgement during a time of immense growth.
"With his considerable support, the group successfully completed the acquisitions of Axa Wealth and then Abbey Life in 2016 and earlier this year we announced the acquisition of Standard Life Assurance which we expect to complete later this year. On behalf of the whole board, I wish Henry every success."
Shares were down 0.7% on Wednesday at 791.50 pence each.
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