Aviva Plc, the U.K.'s second-biggest insurer, said Andrew Moss quit as chief executive officer after presiding over an almost 60 percent fall in the share price in the last five years and a row about pay. The stock rose.
The firm's incoming chairman, John McFarlane, will immediately become interim executive deputy chairman, the London-based insurer said today in a statement. Finance Director Pat Regan, Andy Haste, former RSA Insurance Group Plc CEO, and Trevor Matthews, CEO of the insurer's U.K. business, were named by analysts as possible successors to Moss.
"Andrew has been unpopular with many shareholders who feel he has at times seemed out of touch with the issues that they thought were facing the group," Marcus Barnard, a London-based analyst at Oriel Securities Ltd. with a buy rating on the stock, wrote in a note to investors today.
Continue Reading for Free
Register and gain access to:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.