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Paul Matthews, CEO of Standard Life Plc's U.K. and Europe pensions and savings business, will step down as an executive director, effective March 1.
Matthews, who joined the company in 1989, will retire from Standard Life on Aug. 31.
Barry O'Dwyer, CEO of Standard Life Assurance Ltd., will replace Matthews on the board as an executive director and assume his responsibilities for the pensions and savings business.