VIDEO: John McFarlane announces strategic review of Aviva
Aviva's acting executive deputy chairman John McFarlane has sets out his vision for the insurance giant in the wake of the departure of chief executive Andrew Moss.
In a four minute video posted on Youtube, the chairman designate, who was asked by the Aviva board to become interim executive deputy chairman with immediate after Mr Moss quit outlined his priorities for the business.
He said his challenge and that of the executive team was to bolster the share price but also to 'make sure we are in the right business in the right way'.
He said he was optimistic about the future of the company which he believed could work its way through the agenda that he has set and while it was a difficult task he was 'up for it'.
He also thanked Mr Moss for the work he had done adding the 'feedback on performance and pay wasn't the full story by a long way'.
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'Andrew has done some great things for this company,' he added.
Mr Moss fell on his sword and announced he was stepping down in the wake of a major shareholder revolt over executive pay and a falling share price.
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He left with immediate effect, but under the terms of a severance deal, he is still in line to walk away with �1.7m, including 12 months salary, a portion of his bonus and a pension contribution.
His departure, after five years at the helm, is the latest example of the so-called 'shareholder spring' which has already seen two other chief executives, David Brennan at AstraZeneca and Trinity Mirror's Sly Bailey, step down amid increasing frustrations in the City.