View the article online at http://citywire.co.uk/new-model-adviser/article/a635889
Aviva appoints Mark Wilson as chief executive
by Jun Merrett on Nov 20, 2012 at 12:58
Aviva has appointed Mark Wilson as its chief executive officer, ending its six month search for a boss.
John McFarlane, Aviva's chairman, who has been acting in an executive capacity whilst the company found a chief executive, will become non-executive chairman, when Wilson takes over as chief executive on 1 Januray 2013.
Wilson was previously chief executive and president of insurance company AIA Group from 2006 to 2010.
McFarlane said that Wilson faced similar challenges at AIA to what Aviva was going through today.
‘He navigated the company through the global financial crisis, narrowed the focus of the company, sold non-core businesses, turned round non-performing segments, and reduced risks and costs,' he said. 'From that foundation he implemented a successful revenue growth strategy.
‘His appointment follows a comprehensive global search process which produced a shortlist of exceptional internal and external candidates. The decision to appoint Mark was unanimous and I am confident he will not only execute the initial agenda currently in progress, but also steer the group forward successfully over the medium term.’
Wilson said that he will work with the Aviva board to ensure the company works to its full potential which it had not been doing before.
'It is acknowledged that over recent years the company has not performed to its potential. The chairman, John McFarlane, and the board have articulated the first stage of the strategy that addresses the immediate issues and I look forward to continue working closely with the board on these priorities. The company will initially be judged on the execution of that strategy and I intend to pursue the execution with rigour and focus.'
News sponsored by:
Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.
Today's top headlines
More about this article:
Look up the shares
More from us
- Aviva boss Moss to walk away with £1.3m payment
- Four Aviva directors hit by calls to quit
- Aviva set to announce senior management cuts
by Rosie Sells on Apr 23, 2014 at 11:01