Phoenix Group Holdings Plc (PHNX.L), an insurance company, announced Monday that Rakesh Thakrar will step down from his position as Group Chief Financial Officer at a date to be agreed in 2024.
The company said its board will initiate a formal process to find a permanent successor, considering both internal and external candidates. In the meantime, Stephanie Bruce will join the firm on June 17 and will thereafter be appointed as interim GCFO, subject to regulatory approval.
She will be reporting to Andy Briggs and will attend all board meetings but will not become a statutory director of Phoenix.
Thakrar and Bruce will oversee an orderly handover ahead of him formally stepping down once her regulatory approval is confirmed. The company will make further announcements in due course.
Thakrar, who joined Phoenix in 2001, had held various strategic and finance positions within the group, including Deputy Chief Financial Officer from 2014 before being promoted to GCFO in 2020.
More recently, he oversaw a number of successful projects including the integration of ReAssure, simplification of the strategic partnership with Abrdn and acquisition of Sun Life Financial Of Canada UK, among others.
Thakrar said, "The Group is in a strong position today as it continues on its journey from being a closed-book life consolidator to a purpose-led retirement savings and income business."
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.