Aviva chief to depart as insurer says new leadership needed
Aviva is parting ways with its chief executive, Mark Wilson, after almost six years, citing a need for “new leadership to take the group to the next phase of its development”.
The FTSE 100 insurer said it had agreed with Mr Wilson, who took the helm in January 2013, that he would step down with immediate effect, but that he would remain with Aviva until April to “assist with the planned and orderly transition”.
A search for Mr Wilson’s successor “will commence immediately, with internal and external candidates being considered”, the company said. That process should be wrapped up within the next four months.
“Mark was brought in to deliver the turnaround of Aviva. The board and Mark believe that given the turnaround has been successfully completed, it is time for new leadership to take the group to the next phase of its development,” Aviva said.
Chairman Sir Adrian Montague will take over executive responsibilities until a permanent CEO is found. He will lead a “chairman’s committee” of the three executive directors, Aviva said, before returning to his role as non-executive chairman.
“We have agreed with Mark this is the right time for a new leader to ensure Aviva delivers to its full potential,” Sir Adrian said in a statement. “Our priority is to ensure, with our new chief executive, that we have the right strategy, focus, capabilities and leadership.”
Mr Wilson said: “When I joined Aviva, the company was in poor health. Aviva is very different today. I have achieved what I wanted to achieve and now it’s time for me to move on to new things.”