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Standard Life chief executive Lumsden steps down

Standard Life group chief executive Iain Lumsden is being replaced by Standard Life Investments chief executive Sandy Crombie with mmediate effect.

Lumsden&#39s retirement, after 36 years with the life office, comes as Standard has announced it is reviewing its mutual status.

Chairman Sir Brian Stewart says: “The Board accepted Iain&#39s view that he would not have been able to see the strategic review through to implementation because of his planned retirement date. We are fortunate to have someone of the calibre and reputation of Sandy Crombie to replace Iain and lead the company through the challenging period ahead.”

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