LONDON - Legal & General Group Plc (LSE:LON:LGEN) has announced a series of changes to its board of directors as part of its long-term succession planning, according to a stock exchange release on Thursday. The changes include the appointment of Henrietta Baldock as Senior Independent (LON:IOG) Director designate, the addition of Mark Jordy as an independent Non-Executive Director, and the retirements of Lesley Knox and Philip Broadley after nine years of service.
Lesley Knox is set to retire from the board on May 21, 2025, followed by Philip Broadley on August 31, 2025. Both Knox and Broadley have served as Non-Executive Directors for nine years, with Knox also chairing the Remuneration Committee and the company's asset management division, Legal & General Investment Management (Holdings) Limited (LGIM(H)). Broadley has been the Audit Committee Chair during his tenure.
Henrietta Baldock, who joined the board in October 2018 and currently chairs the company's principal insurance operating subsidiary, Legal & General Assurance Society Limited (LGAS), will succeed Knox as the Senior Independent Director on May 21, 2025. In this role, Baldock will lead the board succession process for the Chair.
Mark Jordy, who is currently Chair of LGIM(H), will join the board on July 1, 2025. His extensive experience in asset management is expected to enhance the board's oversight of the company's growth plans, particularly in public and private markets. Jordy has held several roles at Wellington Management Company, including Chief Executive, EMEA Office, and serves as a Non-Executive Director for LGT and LGT Capital Partners (WA:CPAP). He will continue to chair LGIM(H) and join the Group Nominations and Corporate Governance, Remuneration, and Risk Committees upon his appointment.
Carolyn Johnson will become the Designated Workforce Director starting April 1, 2025, taking over from Nilufer Kheraj when her term ends. This role involves engagement with the company's workforce.
Sir John Kingman, Group Chair, expressed his delight at welcoming Jordy to the board and his anticipation of working with Baldock in her new role. He also thanked Knox and Broadley for their significant contributions to the company.
Legal & General is a leading financial services group in the UK, with £1.2 trillion in total assets under management as of the first half of 2024. The company is focused on serving the long-term savings and investment needs of its customers and is committed to responsible investing.
This board restructuring is part of Legal & General's strategy to maintain strong governance and support its growth objectives. The information regarding these changes is based on a press release statement from the company.
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