Rainbow Rare Earths Phalaborwa project shaping up to be one of the lowest cost producers globally. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Phoenix Group CFO Thakrar stepping down after over two decades at firm

Mon, 13th May 2024 10:32

(Alliance News) - Phoenix Group Holdings PLC on Monday said former Non-Executive Director Stephanie Bruce will return in June as interim chief financial officer, as current CFO Rakesh Thakrar prepares to step down.

The London-based life insurance provider said Thakrar will formally step down from his post during 2024, once regulatory approval is confirmed for incoming Interim CFO Bruce.

Bruce, who served as a non-executive director at Phoenix Group from June 2022 until May 2023, will re-join the firm on June 17 pending her formal appointment as interim CFO. She will not become a statutory director, but will attend all board meetings and report to Chief Executive Officer Andy Briggs.

Bruce formerly served as CFO of Edinburgh-based investment firm abrdn PLC from May 2019 to May 11, 2023, although she remained there until the end of that year to support the transition.

Phoenix Group said it will consider both internal and external candidates when it initiates the formal process to find Thakrar's permanent successor.

Thrakar has worked at Phoenix Group since 2001, becoming deputy CFO in 2014 before his promotion to CFO in 2020.

Phoenix said Thrakar "was central to the acquisitions which contributed to the group becoming the UK's largest long-term savings and retirement business".

Phoenix Group shares traded 2.1% lower at 509.66 pence late on Monday morning in London.

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Related Shares

More News
20 Jun 2024 11:33

IN BRIEF: Phoenix Group completes half of deleveraging programme

Phoenix Group Holdings PLC - London-based long-term savings and retirement products - Completes first phase of GBP500 million deleveraging programme b...

20 Jun 2024 07:18

Phoenix Group completes first phase of deleveraging programme

(Sharecast News) - Phoenix Group announced on Thursday that it has successfully completed the initial phase of its deleveraging programme, including a...

14 Jun 2024 19:48

IN BRIEF: Phoenix Group to accept USD500 million notes tendered

Phoenix Group Holdings PLC - London-based life insurance provider - Further to tender offer, says will accept for purchase validly tendered notes in a...

10 Jun 2024 09:10

LONDON BROKER RATINGS: JPMorgan cuts Aviva but lifts M&G

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday:

15 May 2024 16:03

UK dividends calendar - next 7 days

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.