The Chief Executive of the Just Group Rodney Cook has decided to step down the role after a period of 9 years with the pension provider. He has planned on staying up to 30th June and then decides to step down from the post. He wants to make sure the transition before he retires from his post.
Just is on a lookout for a successor for the position of Cook and have decided to consider candidates both internally as well as externally. On an interim basis, David Richardson who is the current Deputy Chief Executive will be serving as the chief executive until then. Richardson is considered to have an experience that is significant and an understanding that is quite deep of the company and its markets.
Richardson was the former chief financial officer on the basis of interim while the firm recruits for the position. The role will be continued to fill during the period of chief executive transition.
The chairman of Just, Chris Gibson-Smith says that he would personally take the initiative and thank Rodney on the behalf of the entire board for his leadership towards the group for the period of the last nine years. Further, he stated that Rodney has led the group during that period when there was a significant change which also included the pension freedom budget the integration of the merger and subsequent of the Just Retirement and Partnership. Apart from this, Rodney also led the group most recently during the process of regulatory consultation. He also said that the leadership which was dealt with by Rodney made a transformation to the group he led and he wishes him all the very best for the future.
The board’s gratitude was expressed to David for stepping into the role of interim group chief executive. The extensive experience that David has with the group, the board is sure that with the strength and support provided by the team of executive management he will be able to manage both his roles equally well during the period of transition.
Cook has also stated, “It was an honor to lead the group for over the past 9 years and I am extremely happy to have provided our customers with security and peace of mind that they deserve. I have delivered the response of the group to the prudential regulatory changes and now, it is the right time that I step down from my position and as the chief executive. The last year has shown us many challenges but the work that our team has done will lead to a definite bright future. I have taken all the pleasure of working with an exceptional team which is amazing in every way possible and I have no doubts that I am leaving the team in perfect and safe hands while I step down from the position.”
The price share of the Just Group has fallen down by more than 50 percent but new capital rules for equity release mortgages was proposed by the Prudential Regulation Authority.