Alastair Barbour, currently, the Phoenix Group's Senior Independent Director, will serve as interim Chairman beginning September 1, 2022. The Board believes that Barbour's longstanding knowledge and commitment to Phoenix will ensure a consistent approach to Board matters.

Phoenix Group announced in July 2021 that its Chairman Nicholas Lyons has been nominated for the role of Lord Mayor of the City of London beginning in November 2022 for a one-year term. Lyons will therefore take a sabbatical from Phoenix Group beginning September 1, 2022, before returning to his position as Chairman of the Board of Directors and Chairman of the Nomination Committee in November 2023, subject to regulatory approval, the company announced. 

Karen Green will succeed Alastair Barbour as Senior Independent Director following the conclusion of the Phoenix Group's 2022 Annual General Meeting on May 5, 2022, subject to regulatory approval. Green is the Chair of the Board Sustainability Committee and the Designated Non-Executive Director for Workforce Engagement.

The Board has also announced the appointment of Katie Murray as an Independent Non-Executive Director with effect from 1 April 2022. Katie has been the NatWest Group's Group Chief Financial Officer since January 2019, after joining the company as Director of Finance in November 2015. NatWest Group plc has appointed her as a director. Katie has over 30 years of experience in finance and accounting. She formerly served as the Group Finance Director for Old Mutual Emerging Markets, based in Johannesburg, from 2011 to 2015.