Outgoing chairman Derek Netherton.
Andy Watson, currently a non-executive director at Canada Life, has been appointed as incoming UK chairman, subject to regulatory approval, the firm revealed.
He will replace Derek Netherton (pictured) who is set to step down later this year after 10 years at the helm.
Netherton was non-executive director at Next Group for 12 years from 1996, chairman at Greggs for 11 years from 2002 and chairman at Opera North for four years from 2010. He has been non-executive director at Irish Life since 2013. Netherton's career began at Schroder Wagg in 1981. He stayed with the firm for 15 years.
Lindsey Rix, CEO at Canada Life UK, said: "I would like to thank Derek for his direction as he steered the business through an ever-changing economic and regulatory landscape over the past decade while overseeing the company grow from strength to strength. All of us here at Canada Life wish him all the very best for the next challenge."
"I am delighted to welcome Andy as incoming chairman, having joined the board 18 months ago. Andy brings a wealth of experience with a strong customer focus and wide market experience, and I look forward to working with the Board and UK executive to deliver our strategic priorities and purpose."
After qualifying as an actuary in 1989, Watson started his career in the insurance sector working for Direct Line, Co-operative Financial Services, RBS, HSBC. He was also CEO at Ageas UK before starting a portfolio career and currently holds two other non-executive positions with the Brathay Trust and Atlanta Holdings.
Watson said: "I look forward to taking over from Derek later this year and thank him for his excellent leadership. I have admired his stewardship of Canada Life Limited and its' board since joining the company as a non-executive director.
"We have even further ambition for Canada Life in the UK - it's a great organisation and a great time to be appointed as chair."
