Stephen Bird stepping down as Abrdn CEO

Abrdn announced a leadership transition on Friday, with group chief executive officer Stephen Bird stepping down.

The FTSE 250 company said that effective immediately, its current group chief financial officer Jason Windsor had been appointed as interim group CEO, pending regulatory approval.

It said Bird would remain with the company until 30 June - the fourth anniversary of his tenure - to ensure a seamless transition of leadership.

The board said the search for a permanent CEO, which would include external candidates, was underway.

“On behalf of the board, I want to thank Stephen for everything he has achieved at Abrdn over the last four years,” said chairman Sir Douglas Flint.

“He joined us as the pandemic took hold and, despite the restrictions this imposed, spearheaded a fundamental reshaping of the company, leading from the front to create a company that can be competitive in a fast-evolving sector.

“Adapting the inherited business model to be capable of generating sustainable and profitable growth required strategic vision, intense hard work and the courage to make tough but necessary decisions.”

Sir Douglas said that while that was underway, he also assembled the talent needed to execute on his vision.

“Jason brought significant and relevant leadership experience to Abrdn and since his arrival last year has made a strong start.

“The board looks forward with confidence to working with him in his new role as our interim group CEO.”

At 0904 BST, shares in Abrdn were up 1.54% at 158.4p.

Reporting by Josh White for Sharecast.com.