Standard Life FD in running for CEO role

Standard Life has confirmed that its chief executive has decided to leave the
company, with finance director Daivid Nish tipped as one of the front runners to
succeed him.

City analysts believe Nish, FD of Standard Life since 2006, could be one of
the favourites to succeed the CEO with Keith Skeoch, head of Standard Life
Investments, close behind the
Financial Times
reported.

It is also expected that the life assurer will look at external candidates
such as Otto Thoresen, chief executive of investment company Aegon UK, to be
based in the Edinburgh head office.

Sir Sandy Crombie will step down from the position later this year when a
successor has been announced following a handover period. Last month the company
announced that Sir Sandy Crombie would take over as chairman of Standard Life
Assurance Company of Canada following the retirement of Jocelyn Proteau in May
this year.

A statement by the company said: ‘Sir Sandy Crombie and the Board have agreed
that the process of identifying his successor should commence in 2009. There is
no fixed timetable and we do not envisage making any further statements about
this matter until a successor is confirmed and a timetable for transition is
set.’

‘Sir Sandy Crombie will remain Group Chief Executive until the Board has
appointed his successor and an orderly handover process has been completed’ it
added.

Nish was previously a partner at Price Waterhouse and latterly group finance
director and a executive director of infrastructure at Scottish Power.

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