ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

PHNX Phoenix Group Holdings Plc

484.40
5.40 (1.13%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Group Holdings Plc LSE:PHNX London Ordinary Share GB00BGXQNP29 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  5.40 1.13% 484.40 485.00 485.40 486.20 479.80 482.20 3,345,238 16:35:12
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Life Insurance 22.81B -116M -0.1159 -41.86 4.86B

Phoenix Group Holdings PLC Directorate Change

13/05/2024 7:00am

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

 

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
BOAKZGMKGZNGDZZ

1 Year Phoenix Chart

1 Year Phoenix Chart

1 Month Phoenix Chart

1 Month Phoenix Chart

Your Recent History

Delayed Upgrade Clock