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Jason Windsor, the finance chief at Abrdn, is expected to take over as CEO from Stephen Bird, as reported by the Financial Times. Windsor, who has been serving as the interim CEO following Bird’s departure, could be officially appointed to the role as early as Tuesday when Abrdn is scheduled to report its half-year results.
The company has yet to confirm the appointment. Abrdn commented to the media, “No decision regarding the new CEO has been finalized. We will provide a market update by regulatory requirements once the board has made a decision.”
Stephen Bird stepped down in May after a tumultuous four-year tenure that saw significant client outflows and a rebranding effort that drew substantial criticism. During his time at the helm, Bird faced challenges in reversing Abrdn’s fortunes, which had been in decline due to a persistent outflow of client funds. His tenure was marked by a failed attempt to turn the company’s performance around, which included job cuts, a streamlined range of funds, and the acquisition of the online investment platform Interactive Investor in 2022.
Bird also proposed selling Abrdn’s underperforming investments arm, a move he had discussed with the board to stabilize the company. Despite this, he had been committed to retaining and revitalizing the business.
Under Windsor’s interim leadership, Abrdn has continued to grapple with the fallout from years of client withdrawals, which culminated in the company falling out of the FTSE 100 index last year. Windsor’s potential formal appointment comes at a critical juncture for Abrdn, as it seeks to regain stability and restore investor confidence.