Mark Wilson, the Aviva CEO, and the board of the insurance firm have confirmed he is stepping down.
Wilson will remain with the group until April 2019 to ensure an orderly transition. The group said the Aviva CEO is leaving as it is time for “new leadership to take the group to the next phase of its development”.
Moreover, the process to find a successor is expected to take four months. Sir Adrian Montague, non-executive chairman, will assume executive responsibilities. In addition, Andy Briggs (CEO, UK insurance), Thomas Stoddard (CFO), and Maurice Tulloch (CEO, international insurance) will join the chairman’s committee.
Montague said: “The Board would like to thank Mark for what he has achieved in his six years at Aviva. He leaves the group in a far stronger state than when he joined. Aviva is now financially strong and delivering solid earnings growth.
“There is much further to go in accelerating our strategic development and enhancing shareholder value. We have agreed with Mark this is the right time for a new leader to ensure Aviva delivers to its full potential. Our priority is to ensure, with our new chief executive, that we have the right strategy, focus, capabilities and leadership. I am confident we will deliver long term growth for the benefit of our customers, our people and our shareholders.”
Mark 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. It has been an honour to lead Aviva through this period of immense change. I am happy I leave the company in a strong position from which it can thrive. I would like to thank all those within and outside Aviva who have supported the successful turnaround and I wish everyone in Aviva the very best for the future.”