Legal & General names new chief executive

by Richard Kilner

Story link: Legal & General names new chief executive

Legal & General Group Plc has announced that Dr. Nigel Wilson is to become the firm’s new group chief executive.

Wilson will succeed Tim Breedon, and joined the firm as group chief financial officer and a Board member in 2009.

He becomes group chief executive designate with immediate effect and will formally assume his new position on 30 June 2012.

On this date Breedon will step down both as group chief executive and as a Board member, and will take on an advisory role with the firm.

The Board has begun the process of finding a permanent replacement group chief financial officer, and has appointed Wadham Downing to occupy the role on an interim basis.

Chairman John Stewart paid tribute to Breedon’s contribution to the firm and expressed his delight at Wilson’s appointment to succeed him.