Mike Yardley steps down as Royal London CEO

Royal London group chief executive Mike Yardley is planning to step down to focus on helping the industry tackle future challenges.

Yardley, who has headed up the group since 1998, says he will leave the company once a successor is appointed.

He says after stepping down he plans to use his experience to help the life assurance and asset management industry "tackle the many challenges ahead".

"Having been CEO of Royal London for over 12 years, I've decided the time is now right for me to announce that I will be leaving the company once my successor has been appointed.

"I am confident Royal London is in an excellent position to continue to grow profitably for the benefit of our members and I believe this is an appropriate time to start the search for the person to lead the company in its next phase of development."

Tim Melville-Ross, chairman of Royal London, says Yardley has built a strong executive team and has made it a strongly capitalised, diversified group offering quality products and services to its members and customers.

"Royal London, its customers and members have every reason to be grateful for what he has achieved.

"He has also played a leading role in bringing about some of the changes in the financial services market place which will lead to higher quality and better value products and services for customers everywhere."

No timescale has been set to find a new CEO, and both internal and external candidates will be considered, the company says.