LEI: 2138001P49OLAEU33T68

This announcement replaces the Board Changes announcement (RNS No: 4972S) made today at 9am. Today's date is 10 March 2023 all other details remain unchanged.

10 March 2023

Phoenix Group Holdings plc - Board Changes

The Board of Phoenix Group Holdings plc ("Phoenix Group" or "the Group") announces that Kory Sorenson will retire from the Board on 30 June 2023 after serving 9 years as an Independent Non- Executive Director.   Kory has served as Chair of the Remuneration Committee since 11 May 2017 and as a member of the Nomination, Risk and Sustainability Committees.

Kory will be succeeded as Chair of the Remuneration Committee by Nicholas Shott with effect from the conclusion of the Annual General Meeting on 4 May 2023, subject to shareholder and regulatory approvals.

This announcement is made pursuant to LR 9.6.11 of the Listing Rules.

The Phoenix Board is pleased to announce that Mark Gregory will be appointed as an independent Non-Executive Director and a member of the Risk Committee with effect from 1 April 2023.

Mark is a former FTSE 100 Chief Financial Officer and divisional Chief Executive Officer ("CEO") with a breadth of experience across financial services and retail. He has a deep knowledge and understanding of the Insurance industry gained from a near 20 year career at Legal & General (L&G), as well as non-executive roles on FTSE 100 and 250 Boards.

He has extensive experience in both life and general insurance, audit, regulation, investment management and M&A with recent executive experience at L&G and Merian Global Investors.   Mark is currently a Non-Executive Director at Direct Line Insurance Group plc where he is also their Chair of the Risk Committee and a Member of the Audit, Remuneration and Investment Committees.

Mark was a Non-Executive Director, Chair of the Remuneration Committee and a Member of the Audit and Nomination Committees at Entain plc.  Mark was also CEO of Merian Global Investors from January 2019 to August 2020.

Commenting on the changes, Alastair Barbour, Chair of Phoenix Group said:

"I would like to thank Kory for the significant contribution she has made to Phoenix during her time on the Board, in particular as Chair of the Remuneration Committee for almost 6 years."

"We are delighted that Mark has agreed to join the Board of Phoenix Group Holdings plc. He is an accomplished executive with significant experience in the financial services, insurance and investment management sectors and will bring additional capability/skills as Phoenix pursues its long-term strategy". 

There is no further information required to be notified under Listing Rule 9.6.13 R with regard to Mark's appointment referred to above.

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