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Successor announced

Flint confirmed as chairman of Standard Life Aberdeen

Douglas Flint (pwc vid)

New chairman: Sir Douglas Flint


 

Sir Douglas Flint has been confirmed as chairman of Standard Life Aberdeen, succeeding Sir Gerry Grimstone on New Year’s Day.

Sir Douglas, former chairman and finance director at HSBC, becomes chairman designate on 1 November. He will receive a salary of £475,000.

Commenting on the appointment, Simon Troughton and Melanie Gee, co-chairs of the appointments committee, said:  “We undertook a rigorous and comprehensive international search to identify Sir Gerry’s successor and we are very pleased that Sir Douglas will join the board and become its chairman.

“His passion for our company, his strong track record as chairman and his international experience make him an ideal candidate to lead the Board as we continue to build our global investment business”. 

The board added: “We would like to thank Sir Gerry for his years of outstanding service and dedication to both Standard Life and Standard Life Aberdeen.  Sir Gerry has been a director since 2003, and has steered the business through periods of significant challenge and change.  His wise counsel and chairmanship has played a pivotal role in our success over this period and he will leave a long-lasting and very positive impact on our business.  We wish him all the very best for the future”. 

Sir Gerry Grimstone commented: “Douglas will make an excellent chairman of Standard Life Aberdeen.  I have had the enormous privilege of serving this company for over 15 years, and been its Chairman for over 11 years.  It is a fine company with the most brilliant employees all committed to serving our customers and clients.  They all have my very best wishes for the future.”

Sir Douglas Flint added “I’m delighted to have been asked to lead the Board of Standard Life Aberdeen at this important time in its development.  I look forward to working with my fellow directors and the management team over the coming months and years to continue to shape its future success”.

Following this appointment, the board will comprise four executive directors, ten non-executive directors and the Chairman, and will be made up of three women and twelve men.  The board will continue to evolve in both size and composition following the merger of Standard Life and Aberdeen Asset Management in 2017. 

The Financial Conduct Authority and the Prudential Regulatory Authority have been notified of the appointment of Sir Douglas Flint as Non-Executive Director and chairman designate, and his appointment as chairman is subject to regulatory approval.

Sir Douglas’ fee as a Non-Executive Director of the Company will be £73,500 per annum.  When he succeeds Sir Gerry as Chairman, his fee will be £475,000. 

Committee appointments

Sir Douglas will become a member of the Nomination and Governance Committee and will chair the Committee once he succeeds Sir Gerry as Chairman of the Board. 

Interest in shares

As at the date of his appointment, Sir Douglas and his Persons Closely Associated hold 10,374 shares in Standard Life Aberdeen plc.

 

Biographical details:

 

Nationality:

British

Education/Qualifications:

BAcc (Hons), Glasgow University, 1973 to 1977

 

PMD Harvard Business School, 1983

 

Member of the Institute of Chartered Accountants of Scotland

 

Other Non-Executive Appointments:

IP Group plc

 

China’s Belt and Road Initiative

 

Motive Partners

 

Charities and not for profit

 

Just Finance Foundation

 

Royal Marsden Cancer Charity

 

Cancer Research UK Corporate Board

 

Centre for Policy Studies

Chairman

 

HM Treasury Special Envoy

 

Global Advisory Council Member

 

 

 

Chairman

 

Trustee and Investment Committee member

 

Chairman

 

Non-Executive Director

 

 

Previous Non-Executive and Advisory Roles:

BP plc  

 

Institute of International Finance

Non-Executive Director, 2005 to 2011

 

Chairman, 2012 to 2016

Career summary:

HSBC Holdings plc, 1995 to 2017

Group Chairman, 2010 to 2017

Chief Financial Officer, Executive Director Risk and Regulation, 2010

Group Finance Director, 1995 to 2009

KPMG, 1977 to 1995

Partner, 1988 to 1995

 

 



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