Legal & General chairman John Stewart to retire in 2016

Legal & General’s chairman John Stewart will retire in 2016 following the identification and appointment of a successor, after five years in the role.

Stewart said he expects the company’s annual general meeting in May 2016 to be his last as chairman.

Group chief executive Nigel Wilson said: “Characteristically, his announcement gives us the opportunity to ensure a smooth succession process and transition to a new chair, and in the meantime we will continue to benefit from his wisdom and experience."