The Wall Street Journal-20080131-Standard Life PLC- Rise in Sales Overshadowed By Departure of Executive

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Standard Life PLC: Rise in Sales Overshadowed By Departure of Executive

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Standard Life PLC, the United Kingdom insurer, met expectations with a 12% rise in 2007 sales, but it signaled a tougher 2008, as analysts said the surprise departure of Trevor Matthews overshadowed the numbers and battered the company's shares. Standard Life faces questions about its strategy and credibility after a failed bid for rival Resolution PLC last year. The departure of Mr. Matthews, head of Standard Life's core U.K. retail unit, is a further setback. Standard Life's shares fell 1.8% to 224 pence ($4.46) in London.