Standard Life has appointed Iain Lumsden as group chief executive and Sandy Crombie as deputy group chief executive, with effect from March 16, 2002.
The appointments follow announcements by group managing director Scott Bell and chief executive Jim Stretton of their intentions to retire on March 15, 2002 and December 15, 2001 respectively.
To assume their new titles, Lumsden will leave his position as Standard Life’s group finance director and Crombie will leave his role as chief executive of Standard Life Investments. The group hopes to announce their replacements in September.
Standard Life chairman, John Trott, said: “Scott Bell and Jim Stretton have made immense contributions to Standard Life’s success and development and in particular since they assumed their current positions in 1988. No organisation could have been better served. In Iain Lumsden and Sandy Crombie the company has appointed two highly qualified and experienced individuals to its most senior executive positions.”
By Janet Du Chenne
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