LONDON (ShareCast) - (Sharecast News) - Just Group said on Tuesday that Rodney Cook has decided to step down as group chief executive officer with immediate effect in order to plan his retirement, after nine years at the retirement specialist.
Cook has agreed to stay on at the company until 30 June to ensure a smooth transition.

The group will begin a formal search for a successor, which will consider both external and internal candidates. In the meantime, current deputy chief executive officer and interim chief financial officer David Richardson will assume the role of interim group CEO.

Just Group said Richardson has significant experience and a deep understanding of the company and its markets, having been CFO of Partnership Assurance Group for three years and then, following the merger of Just Retirement Group and Partnership, being appointed group deputy chief executive officer in April 2016.

The search for a permanent group CFO is in process and Richardson will retain his responsibilities until a successor is named.

Chairman Chris Gibson-Smith said: "I would like to thank Rodney personally and on behalf of the board for his leadership of the group over the last nine years. He has led the group through a period of significant change, including the Pension Freedom Budget, the merger and subsequent integration of Just Retirement and Partnership, and most recently during the regulatory consultation process. Rodney's leadership has transformed the group and I wish him the very best for the future.

"I would also like to express the board's gratitude to David for stepping into the role of interim group CEO. Given David's extensive experience with the group, the board is confident that with the support of the executive management team he can manage both roles during the transitional period."

At 0920 BST, the shares were down 2.5% at 67.60p.

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