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Savings, investment and protection provider LV= announces that Richard Rowney has today stepped down as Chief Executive and a member of the Board. Richard will leave LV= on 31 December 2019.
The process to appoint a successor is now underway and in the interim, Alan Cook, Chairman LV=, will assume Executive Chair responsibilities. These interim arrangements are subject to regulatory approval.
Richard Rowney has served LV=’s members, customers and staff with great distinction over the last decade and I thank him for all he has achieved.
As Managing Director Life & Pensions he turned LV= into one of the UK’s leading specialist retirement and protection providers. Most recently as Chief Executive he led the sale of LV=’s General Insurance business and the process to convert from a friendly society to a company limited by guarantee.
The Board and Richard have agreed that the time is right for him to step down. The process to appoint a new Chief Executive is now underway and we expect to conclude this before the end of the year.