Resolution Chairman to quit
Resolution, the FTSE 100 life insurer, has announced that Chairman Mike Biggs is to leave in the first quarter of 2013, once its new corporate governance procedures and new board in place.
Resolution, the FTSE 100 life insurer, has announced that Chairman Mike Biggs is to leave in the first quarter of 2013, once its new corporate governance procedures and new board in place.
The company says that while he remains committed to chairing the new board to oversee this period of change, he has decided that it would be appropriate to hand over to a new chairman once the transition has been completed.
"Mike considers the governance changes create a natural point at which to appoint a new chairman and this will also enable him to focus on his other non-executive commitments."
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The company has commenced an appointment process for the new chairman and the additional independent non-executive director, led by Phil Hodkinson, Senior Independent Director.
They new board will consist of the following members:
Andy Briggs, group Chief Executive Officer,
Tim Tookey, group Chief Financial Officer
David Allvey, Independent Non-Executive
Mel Carvill, Independent Non-Executive
Clive Cowdery, Non-Executive
Peter Gibbs, Independent Non-Executive
Phil Hodkinson, Independent Non-Executive
Nick Lyons, Independent Non-Executive
Robin Phipps, Independent Non-Executive
Belinda Richards, Independent Non-Executive
Karl Sternberg, Independent Non-Executive
John Tiner, Non-Executive
Tim Wade, Independent Non-Executive
The company expects to appoint an additional independent non-executive director, not drawn from either of the existing RSL and FLG boards, in due course.
While relevant regulatory processes have now been completed, the changes to the board remain subject to shareholder approval to amend the company's constitution to enable, among other things, the appointment of UK resident executive directors. The general meeting to seek shareholder approval is expected to be held during the first quarter of 2013.
CM
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