Legal & General Assurance Society chief executive John Pollock is to retire next year, the group has announced.
After serving on the board for 11 years, Pollock will step down at the next annual general meeting in May 2015.
He joined Legal & General in 1980 and was appointed to the board in 2003. As chief executive of Legal & General Assurance Society, he is responsible for the group’s protection and savings business.
Legal & General group chief executive Nigel Wilson says: “It has been a privilege to work with John, who has been instrumental in making Legal & General the successful company it is today.
“He has ensured we have the right values and culture to back up our financial success, and he has led from the front in everything he has done, not least in delivering socially useful products and value for customers.
“He has built a strong leadership team around him and with the long notice period he has given us this will allow us to implement a seamless succession.”
Pollock says: “Retiring from an organisation of Legal & General’s stature is hard; the people and the culture are strong beyond description and the success we have achieved is impressive. I hope I have contributed to that culture and success and leave the board with a company in better shape than when I joined it.
“Legal & General has been a passion for me for 35 years and despite it being right for me to step away now, I know I will miss it.”
Legal & General says an announcement will be made in due course regarding a replacement for Pollock.