UK Markets open in 5 hrs 14 mins

RSA chairman Martin Scicluna to step down next year - Sky News

·1-min read
Scicluna, Chairman of Sainsbury's, poses for a portrait at the company headquarters in London
Scicluna, Chairman of Sainsbury's, poses for a portrait at the company headquarters in London

(Reuters) - British insurance group RSA's <RSA.L> chairman Martin Scicluna is expected to step down next year, Sky News reported on Sunday, citing sources.

The Sky News report said RSA had begun a search for a successor to Scicluna, who also chairs British supermarket group Sainsbury's <SBRY.L>.

RSA declined to comment. Sky News also said Baroness Fairhead, a former trade minister, was seen as a strong contender to replace Scicluna.

The search process is at a relatively early stage, with an announcement not likely until next year, the Sky News report also said.

(Reporting by Aishwarya Nair and Rebekah Mathew in Bengaluru. Editing by Jane Merriman)