Legal & General Regulatory News (LGEN)

Legal & General Group Plc Board announces the appointment of Tushar Morzaria as a non-executive director of Legal & General Group Plc

7 March 2022

The Board of Legal & General Group Plc (the "Company") is pleased to announce the appointment of Tushar Morzaria as an independent non-executive director of the Company with effect from 27 May 2022. Tushar will join as Chair of the Group Audit Committee upon appointment and will also join the Group Risk Committee, the Group Remuneration Committee and Group Nominations and Corporate Governance Committee.

Mr Morzaria has extensive financial services experience, including eight years as the Group Finance Director of Barclays PLC and, prior to that, as the Chief Financial Officer of Global Investment Banking at JP Morgan Chase & Co. Mr Morzaria will retire from his position at Barclays PLC prior to joining the Company.

The Board further wishes to announce that following his recent appointment as the Chair of Age UK, Toby Strauss has decided to step down as a non-executive director of the Company with effect from 29 April 2022 after more than five years of service. Sir John Kingman will assume the role as the Chair of the Group Risk Committee on a temporary basis upon Toby's departure pending the appointment of his successor.

Sir John Kingman, Group Chairman, said:

"I am delighted to welcome Tushar to the Group Board. He brings with him a wealth of expertise in financial services and transformation. I very much look forward to working with Tushar and welcoming him to the Board in May. I would like to thank Philip Broadley for his outstanding stewardship of the Group Audit Committee over the past six years and for his continuing counsel in his role as Senior Independent Director.

I would also like to take this opportunity to thank Toby for his significant contributions to the Board during his tenure. It has been a great pleasure to work alongside Toby and we wish him all the best for the future."

Mr Morzaria is currently a non-executive director of BP plc and the chair of its audit committee. There are no details or disclosures required under LR 9.6.13R of the Financial Conduct Authority's Listing Rules.

Notes to Editors

Legal & General Group Plc

Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.3 trillion in total assets under management of which a third is international. L&G also provides powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. As at 4 March 2022, Legal & General has a market capitalisation of £14.55 billion.