Standard Life Aberdeen boss defends position on Sky board

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Standard Life Aberdeen’s Martin Gilbert

Standard Life Aberdeen co-chief executive Martin Gilbert has defended his role on the board of Sky amid complex merger talks for both the broadcast and his own asset manager.

At Standard Life Aberdeen’s annual general meeting yesterday, Gilbert, who is deputy chairman of Sky, said the role “isn’t as time consuming as you would think”, the Times reports, and suggested it would be wrong to leave the board while takeover discussions were still in play.

Gilbert took the decision earlier this month to temporarily forgo his position as a non-executive director at FTSE100 mining corporation Glencore, in order to help steer Sky through its merger talks.

Standard Life/Aberdeen merger: What we know so far

Gilbert has previously said he will stand down from the Sky role after any deal is finalised.

However, there are still a number of outstanding issues resulting from the merger of Aberdeen Asset Management, which Gilbert was chief executive of, and Standard Life since their merger last August.

Standard Life recently sold its life insurance business to closed book provider Phoenix. Yesterday, Standard Life Aberdeen announced it was now preparing to return £1.75bn in capital to shareholders as a result of the deal.

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