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Standard Life plc - Annual Report and Accounts 2007
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The Directors

Several changes were made to the Board during the year. Crawford Gillies was appointed to the Board on 1 January 2007 and Baroness McDonagh was appointed to the Board on 1 March 2007. Also, in February 2007, it was announced that Sir Brian Stewart would be succeeded as Chairman by Gerry Grimstone on 29 May 2007. As disclosed in last year's Corporate governance report, the appointment process was overseen by Hugh Stevenson, the Senior Independent Director, in association with the Nomination and Governance Committee.

John Hylands retired from the Board on 31 March 2007 and Alison Mitchell and Sir Brian Stewart retired from the Board at the conclusion of the Company's AGM on 29 May 2007. Colin Buchan, a non-executive director of Standard Life Investments Limited, was appointed to the Board on 1 January 2008. As he has been appointed as a Director since the last AGM, he must retire and offer himself for election at the 2008 AGM. Lord Blackwell and Keith Skeoch will retire by rotation and offer themselves for re-election. Background information relating to their election and re-election is contained in the AGM guide. Trevor Matthews resigned from the Board on 29 January 2008. Sandy Crombie will fulfil the role of Chief Executive, UK financial services division until a permanent appointment is made.

Hugh Stevenson has served as Senior Independent Director throughout the year. In this capacity, he is available to talk with shareholders about any concerns they have not been able to resolve through the normal channels of Chairman, Group Chief Executive or Group Finance Director, or if these channels are inappropriate. The Senior Independent Director is also responsible for leading the Board's discussion on the Chairman's performance. In November 2007, it was announced that Hugh Stevenson will retire at the conclusion of the 2008 AGM and will not offer himself for re-election. It was also announced that, following Hugh Stevenson's retirement, Lord Blackwell would, if re-elected at the 2008 AGM, be appointed as Senior Independent Director with the same terms of reference as noted above.

The Board conducts an annual review of the independence of non-executive Directors to consider all issues relevant to their independence. This involves reviewing their external appointments and assessing their individual circumstances against independence criteria, including those contained in the Code. Having considered the matter carefully, the Board is of the opinion that all the non-executive Directors are independent in character and judgement and that there are no relationships or circumstances which are likely to affect this.

The Board's policy is to allow Directors to seek, at the Company's expense, appropriate professional advice outside the Company when they consider this necessary to carry out their responsibilities.