The Board of Standard Life Aberdeen plc (LON:SLA) today announced that Sir Douglas Flint will be appointed as a Non-Executive Director and Chairman Designate of the Company on 1 November 2018. The Board intends that Sir Douglas will succeed Sir Gerry Grimstone as Chairman on 1 January 2019 and Sir Gerry will stand down from the Board at that time.
Commenting on the appointment, Simon Troughton and Melanie Gee, Co-Chairs of the Appointments Committee, said:
“We undertook a rigorous and comprehensive international search to identify Sir Gerry’s successor and we are very pleased that Sir Douglas will join the Board and become its Chairman. His passion for our Company, his strong track record as chairman and his international experience make him an ideal candidate to lead the Board as we continue to build our global investment business”.
The Board added “We would like to thank Sir Gerry for his years of outstanding service and dedication to both Standard Life and Standard Life Aberdeen. Sir Gerry has been a Director since 2003, and has steered the business through periods of significant challenge and change. His wise counsel and chairmanship has played a pivotal role in our success over this period and he will leave a long-lasting and very positive impact on our business. We wish him all the very best for the future”.
Sir Gerry Grimstone commented: “Douglas will make an excellent chairman of Standard Life Aberdeen. I have had the enormous privilege of serving this Company for over 15 years, and been its Chairman for over 11 years. It is a fine company with the most brilliant employees all committed to serving our customers and clients. They all have my very best wishes for the future.”
Sir Douglas Flint added “I’m delighted to have been asked to lead the Board of Standard Life Aberdeen at this important time in its development. I look forward to working with my fellow Directors and the management team over the coming months and years to continue to shape its future success”.
Following this appointment, the Board will comprise four executive directors, ten non-executive directors and the Chairman, and will be made up of three women and twelve men. The Board will continue to evolve in both size and composition following the merger of Standard Life and Aberdeen Asset Management in 2017.
