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L&G chief exec stays on in boardroom reshuffle

A boardroom reshuffle at Legal and General will see chief executive David Prosser remain a further two years and corporate business director Andrew Palmer replace Tony Hobson, who is retiring as after 13 years, as finance director.

The shake up means Prosser who was due to retire in 2004, will now stay on until 2006.

He will spearhead the launch of L&Gs stakeholder pension in April 2001 and is aiming to obtain a 10 per cent share of the stakeholder market for L&G.

Palmers former role will be taken up by retail business group director Robin

Phipps and highlights L&G&#39s commitment to promoting junior executives.

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