Kevin Parry, who has served as chair of Royal London since January 2019, has resigned, citing his decision not to continue beyond 2024.
Deputy chair Lynne Peacock (pictured) will immediately take on Parry’s responsibilities in an interim capacity. As interim chair of the mutual life and pensions firm, Peacock’s first order of business is leading the search for a permanent replacement.
“On behalf of the board, I would like to thank Kevin for his advice and guidance in leading the strategic development of Royal London over the time of his tenure and wish him all the best in his next ventures,” said Peacock, who has been with the board since December 2023.
“Personally, I have known Kevin for many years, and while I know that we will all miss him, we understand the reasons for his decision.”
Parry will have served six years on the Royal London board by December 31. The board accepted Parry’s resignation in line with his notice period.
Lifting the lid on his departure, Parry stated: “It has been a privilege to chair Britain’s leading mutual insurance and asset management group. The group needs to continue to develop its strategy to take advantage of market opportunities for growth across its insurance and asset management businesses for the benefit of our members.
“That requires leadership from a chair who can commit to a medium-term tenure of five or so years, which is not available to me. I am grateful to Lynne for agreeing to take on the interim chair role while my successor is identified. I wish all my colleagues and our members the very best for the future success of Royal London.”
Manned by more than 4,400 people, Royal London has 8.5 million policies in force and £169 billion in assets under management.
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