Chesnara PLC (LON:CSN) senior independent director Mike Evans is stepping down with immediate effect to become chairman of Prudential PLC’s (LON:PRU) UK and Europe division.
Jane Dale, a non-executive of the life assurance and pensions consolidator since May 2016, will succeed Evans.
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Evans, an insurance veteran, will take on the chairmanship at M&G Prudential to help oversee the arm’s demerger from the parent company in 2020.
He was Hargreaves Lansdown PLC's (LON:HL. chairman until last year, before joining Just Eat PLC (LON:JE. as its chairman. He has also previously chaired Zoopla owner ZPG.
Chesnara chairman Peter Mason said: "I would like to welcome Jane to Chesnara's SID role and look forward to continuing to work closely with her to further develop the business. Her knowledge of the group, the financial service industry generally and developments in its financial reporting requirements make her an excellent appointment to the role."
He added: "At the same time, I would like to thank Mike for his contribution to Chesnara since his appointment to the Board in 2013, since which time the group has expanded significantly and delivered strong performance. We wish Mike well in his new role where his experience will undoubtedly be of great value."
Prudential announced in March it would split its business into two with M&G focused on the UK and Europe and the other on its US and Asia operations.
READ: Prudential split makes strategic sense as seismic shifts in financial sector roll on
The group said M&G would become an “independent, capital-efficient UK and Europe savings and investment provider" headquartered in London while Prudential PLC will be "a leading international insurance group focused on high-growth opportunities in Asia, the US and Africa".