(Alliance News) - abrdn PLC on Friday began the search for a new chief executive after announcing Stephen Bird would be leaving the business at the end of June.

"Following the significant strategic repositioning of the company, the board and group [Chief Executive], Stephen Bird, have together agreed that it is the right time for Stephen to hand over the reins to the team he has assembled over the last four years to drive the business forward," the company said in a statement.

The Edinburgh-based investment company said Group Chief Financial Officer Jason Windsor has been appointed interim group CEO on Friday while a formal search process, is completed.

This will include consideration of external candidates, abrdn said.

Bird will work alongside Windsor until his departure at the end of June, the fourth anniversary of his appointment.

Under Bird's tenure, abrdn bought Interactive Investor in 2021, sold its private equity arm and shed its 50% stake in a joint venture with Virgin Money UK PLC.

abrdn Chair Douglas Flint said Bird had "spearheaded a fundamental reshaping of the company, leading from the front to create a company that can be competitive in a fast-evolving sector."

Shares in abrdn fell 0.4% to 155.40 pence in London on Friday morning.

By Jeremy Cutler, Alliance News reporter

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