Changes to Royal London Board

Royal London today announces that Tim Tookey, Chair of the Audit Committee, will step down from the Royal London Board after the Company's Annual General Meeting (AGM) on 3 June 2025, and that Gregor Stewart, who has joined the Board as a non-executive director with effect from 2 June 2025, will become Chair of the Audit Committee, subject to regulatory approval.   

Mr. Tookey has served as a non-executive director of Royal London since April 2020, adding substantial value to the Board's deliberations. He had informed the Board earlier this year of his intention to retire at the AGM, following a distinguished 40-year career in the City.   

Mr. Stewart brings to the Board extensive experience across the insurance and asset management industries, at both executive and non-executive level. He qualified as a chartered accountant in 1988, becoming a partner in EY's financial services practice in 1999. During a 23-year career at EY, his focus included large audit and advisory clients across the insurance, pensions and investment management industries. He subsequently joined Lloyds Banking Group plc, which included Scottish Widows, for four years as Finance Director of its Insurance Division. He currently serves as Chair of FNZ Group and non-executive director of Direct Line Insurance Group plc, and was previously Chair of Alliance Trust plc and Chair of Quilter Financial Planning Ltd. 

Commenting, Isabel Hudson, Chair of Royal London, said:   

"On behalf of the Board, I would like to extend our deepest gratitude to Tim for his significant contribution to Royal London over the past five years. Tim's extensive experience and dedication have been instrumental in guiding the company through some significant milestones. We wish him all the best in his well-deserved retirement.   

"I am also delighted to welcome Gregor to the Board. Gregor brings a wealth of financial services experience, including across the insurance and pensions sector, both at the executive and non-executive level, together with proven audit and board-level leadership. This will be invaluable as we continue to drive Royal London forward. We look forward to his contribution and the significant experience that he will bring to our Board."   

Gregor Stewart added:   

"I am honoured to join the Board of Royal London, a mutual with a rich history and a strong commitment to its members and customers. I'm looking forward to working with my fellow Board members to support Royal London's growth and strategy to deliver exceptional value to members, customers and advisers."