LV= has announced that it has appointed Mark Austen to be the firm’s new chairman for an initial three year period following the AGM on 23 May 2013.
Dennis Holt has served as LV=’s chairman for two terms (totalling six years) and will step down at the same time.
Austen has been with the firm since 2006, and is presently the senior independent director (SID) on the LV= Board.
During a three year period he was chairman of the audit, risk and compliance committee and since 2011 has chaired the risk committee, as well as holding non-executive roles with other firms including Mott McDonald Group PLC and Standard Bank PLC.
Austen stated that the firm had undergone significant changes during the years of Holt’s stewardship and expressed his delight at becoming chairman.