One of the Treasury’s most experienced officials, has been unveiled as the new group chairman of Legal & General.
Sir John Kingman will take up the position next Monday, 24 October.
L&G said interim chairman Rudy Markham will remain on the board as a non-executive director until the group annual general meeting in 2017.
He said:
On behalf of the board, I welcome John as our new chair. Legal & General is an exceptional company and it has been my privilege to serve the board and company in a variety of roles during my tenure.
Senior independent director Julia Wilson said:
I wish to thank Rudy for his wisdom, guidance and stewardship during his years on the board and particularly for assuming the chairmanship over the last few months. The board is very grateful for Rudy’s leadership.
Kingman emerged as a surprise candidate to replace John Stewart at L&G in June after he stepped down from his position as second permanent secretary of the Treasury.
Source: City A.M.