Standard Life plc announced that Siobhan Boylan, the group shareholder nominated non-executive director nominated by Aberdeen Group plc, will cease to be on the board with effect from October 12, 2026.

Boylan is Aberdeen Group’s chief financial officer.

“Following Aberdeen’s announcement on 8 October 2026 regarding the sale of 52,000,000 ordinary shares in Standard Life, Aberdeen’s shareholding has reduced to approximately 5.3%,” said Standard Life.

“Under the terms of its arrangements with Standard Life, Aberdeen no longer satisfies the ownership threshold required to nominate a director to the board.”

Edinburgh investment giant Aberdeen Group confirmed on October 8 that it sold 52 million ordinary shares in Standard Life plc, representing 5.2% of Standard Life’s issued share capital, at a price of £8.39 per share, raising £436 million.

Standard Life plc was formerly called Phoenix Group, which acquired the Standard Life brand in 2021 from Aberdeen.