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(Alliance News) - M&G PLC on Wednesday said Non-Executive Director Caroline Silver will step down at the company's annual general meeting on May 27.
M&G was spun off in October from FTSE 100 insurer Prudential PLC. M&G made up Prudential's UK & European operations.
The FTSE 100-listed company explained that Silvers' departure reflects the "significantly" higher demands on her time following her appointment as executive chair of healthcare products manufacturer PZ Cussons PLC.
A search is under way for Caroline's replacement, M&G noted.
"I would like to thank Caroline for her service at M&G. Caroline provided invaluable guidance to the board as we prepared for our successful listing on the London Stock Exchange last October. I wish her all the best for the future," said M&G Chair Mike Evans.
The stock was trading 1.0% higher in London on Wednesday at 251.40 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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