Abrdn Boss Stephen Bird to Step Down in June

Bird will leave the company in June, which will coincide with his fourth anniversary of running the beleaguered company

Alliance News 24 May, 2024 | 1:51PM
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UK City of London Main

Abrdn (ABDN) was commencing the search for a new chief executive on Friday after incumbent Stephen Bird revealed he would be leaving the business at the end of June.

"Following the significant strategic repositioning of the company, the board and group have together agreed that it is the right time for Stephen to hand over the reins to the team he has assembled over the last four years to drive the business forward," the company said in a statement.

The Edinburgh-based investment company said group chief financial officer Jason Windsor had been appointed interim group chief executive while a formal search process is completed. This will include consideration of external candidates, Abrdn said.

Bird will work alongside Windsor until his departure at the end of June, the fourth anniversary of his appointment.

Under Bird's tenure, Abrdn bought wealth platform business Interactive Investor in 2021, sold its private equity arm, and shed its 50% stake in a joint venture with Virgin Money UK (VMUK).

abrdn Chair Douglas Flint said Bird had "spearheaded a fundamental reshaping of the company, leading from the front to create a company that can be competitive in a fast-evolving sector."

Shares in abrdn fell 0.4% to 155.40 pence in London on Friday morning.

By Jeremy Cutler, Alliance News reporter

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