Legal & General chairman John Stewart, who has led the insurer and asset manager since 2010, plans to retire in 2016 following the appointment of a successor.
Senior independent director Rudy Markham will lead the nominations committee process for the identification and appointment of a new chairman, according to newswire Reuters.
During Stewart’s tenure the group has had a total shareholder return of 399%, the company told Reuters.
Stewart is a member of the Court of the Bank of England and was previously a non-executive director of the Financial Reporting Council.
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