Phoenix Group has kickstarted the search to permanently replace its chief financial officer Rakesh Thakrar, who will step down in 2024 after four years in the role. The FTSE 100 insurance group did not offer a reason for Thakrar's departure but told shareholders he will step down 'at a date to be agreed in 2024'. Stephanie Bruce, former CFO of asset manager Abrdn, will takeover on 17 June on an interim basis. Last month, the company told investors it now expects to post profits of £900million by 2026. Phoenix shares were down 2.11 per cent to 509.50p in Monday morning trading.

Source: Daily Mail May 13, 2024 21:18 UTC