November 8, 2019 / 9:53 AM / a month ago

Lloyd's of London to create single governing body from June 2020

LONDON, Nov 8 (Reuters) - Lloyd’s of London said it plans to simplify its governance structure by merging its franchise board and council into one 15-person governing body from June 1, 2020, it said in a statement on Friday.

Lloyd’s’ nominations and governance committee is working with Chairman Bruce Carnegie-Brown to identify six independent members of the board from among existing members, it said, while an election for the six market representative members will take place in April/May 2020.

The new board will also have three executive members. (Reporting by Carolyn Cohn; editing by Simon Jessop)

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