November 26 2014 Latest news:
Shaun Lowthorpe, Business editor
Tuesday, November 20, 2012
Insurance giant Aviva today ended its search for a new chief executive unveiling Mark Wilson as its new boss.
The firm, which has been without a chief executive following the departure of Andrew Moss in May following a backlash from shareholders over the pay and perks of senior managers in the wake of poor share performance, said Mr Wilson, who was chief executive and president of insurance group AIA, will join the board from December 1 and become chief executive a month later on New Year’s Day.
John McFarlane, Chairman of Aviva, who has been acting in an executive capacity pending the appointment of a CEO, will become non-executive Chairman on 1st January 2013.
Mr McFarlane, said: “I am delighted we have secured Mark for Aviva. His leadership credentials are incredibly strong. He has an outstanding track record of leading a major insurer, of transforming its performance and culture, of implementing a growth agenda and of producing significant shareholder value, all of which are essential for Aviva’s success going forward.”
EDP Business editor Ben Woods analyses the implications for Aviva staff following Friday’s announcement of a potential merger with Friends Life