Three recently thwarted Standard Life board nominees, Dugald Eadie and actuaries Ronnie Sloan and Vince Whitefoord, have welcomed the statement by Standard's new chief executive elect, Iain Lumsden, that he intends to adopt a more approachable stance.
Following his appointment Lumsden spoke widely of his aim of modernising corporate governance at the Scottish mutual and promised to review its board structure, issues on which the trio have been strongly critical in recent months.
Sloan said that Standard's important remuneration and appointments committee is currently improperly structured by including over long-serving directors in breach of industry and Standard Life's own guidelines.
Whitefoord said: We were, however, somewhat disappointed by Lumsden's pledge of 'no change for five years' regarding mutuality, when one of our election platforms had been to bring a more open-minded approach to this and other key business issues.
Sloan and Whitefoord are both experienced actuaries while Eadie is an ex-stockbroker and founder of performance measurers the WM Company.
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