Standard Life announces its new Corporate Governance after completion of the proposed merge with Aberdeen Asset Management

– SCOTLAND, Edinburgh – Standard Life (LSE:SL) is pleased to announce the following proposed appointments further to the announcement on 6 March 2017 relating to the recommended all-share merger of Standard Life and Aberdeen, Standard Life :

as non-executive Directors:

  • Simon Troughton,
  • Julie Chakraverty,
  • Gerhard Fusenig,
  • Richard Mully,
  • Jutta af Rosenborg
  • Akira Suzuki ,

as executive Directors of the Board.

  • Martin Gilbert
  • Bill Rattray

They all currently serve on the Board of Aberdeen.

In addition, Rod Paris, Chief Investment Officer, Standard Life Investments, as an executive director of the Board.

All of these appointments are conditional upon, and will take effect from, completion of the Proposed Merger. They are also all subject to regulatory authorisations.

Standard Life also announces that, upon completion of the Proposed Merger, the governance structure of the Board will be as follows:

  • Chairman – Sir Gerry Grimstone
  • Deputy Chairman – Simon Troughton
  • Senior Independent Director – Kevin Parry
  • Chairman of the Nomination and Governance Committee – Sir Gerry Grimstone
  • Chairman of the Audit Committee – John Devine
  • Chairman of the Remuneration Committee – Richard Mully
  • Chairman of the Risk and Capital Committee – Martin Pike

Subject to, and on completion of the Proposed Merger, Colin Clark, Global Client Director, Barry O’Dwyer, CEO Pensions and Savings, and Luke Savage, CFO, will resign from the Board of Standard Life as executive Directors, and Pierre Danon and Noel Harwerth, will resign as non-executive Directors. Post completion of the Proposed Merger, Pierre Danon will become a member of Standard Life’s Global Advisory Panel, and subject to regulatory authorisation, Noel Harwerth will be appointed to the Board of Standard Life Assurance Limited.

Sir Gerry Grimstone, Chairman of Standard Life commented: “Today’s announcement is another important step towards completing the proposed merger between Standard Life and Aberdeen Asset Management.

“The Directors on both Boards have extensive global experience and have provided effective stewardship to grow each organisation. We have been able to create a diverse Board which will have a strong blend of appropriate skills and knowledge. Together we will effectively oversee the successful delivery of the merger process and the future growth of the Combined Group.”

Following these changes, and subject to completion of the Proposed Merger, the Board will comprise the Chairman, four executive directors and eleven non-executive directors. It will be made up of four women and twelve men.

For more information : http://www.standardlife.com

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