Tim Breedon, CEO of Legal & General (L&G), is to retire from the company at the end of 2012, when he will have completed a quarter of a century at the insurer.
Breedon, also chairman of the Association of British Insurers, took up his current post in 2006. "It has been an absolute privilege to lead Legal & General, but by the end of 2012 I will have completed 25 years service with the company and will have been CEO for seven years," he said. "With the company in excellent shape I feel that next year will be the right time to retire from the company." L&G said the process to appoint Breedon's successor will begin shortly.
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