Aviva Share Discussion Threads

[eurofox] 06/7/2020 12:06

In spite of my comments, after looking at the wider news coverage and considering the upside more carefully, I have added to my core holding

[luzley] 06/7/2020 11:56

Give the lady some space guys before the premature assassination. It's a shrewd move to bring in a female CEO; that will certainly change investment opinion in some quarters as gender rebalancing is a red hot issue. It's a real opportunity to grasp this bunch of nettles and bin the chaff. Hoping for a Thatcher rather than a May approach ..... it 'could' actually work!! But there's a big glass ceiling on optimism with Aviva......

[cyberian] 06/7/2020 11:09

I think that if one reads her comments today carefully following her appointment (first 2 paragraphs)one may see that she has sussed out what needs to be done. She has rightly applauded the key leaders in the various sectors of their business, and hopefully she will help unlock the talent and inspire them to greater achievements to the benefit of stakeholders. I think she will hit the ground running as they say!! I am optimistic, but appreciate those who are less convinced...time will tell fairly soon.

[gutterhead] 06/7/2020 10:50

she will kitchen sink MT strategy and invent a new one.....so predictable
it seems such an unimaginative appointment
I hope I am wrong

[neophytos] 06/7/2020 10:24

I think it was a real shame they let Andy Briggs go (meaning they created the environment in which he wanted to leave). Met him a bunch of times during my tenure at Aviva HQ, and unlike many of the execs, Andy always had a down to Earth nature, was a really decent chap, and I felt he was a really good leader. He was in the top seat of Resolution, which then became Friends Life, but then had to take a no.2 seat once they were acquired by Aviva. I felt that even though Andy was CEO of the largest chuck on the Aviva business ('UKL', and then 'UKI' once 'UKL' and 'UKGI' merged), he always did't like the fact that Group called the shots on overall strategy (and occasionally didn't play ball). I think from memory he had something like £500m sign off, so was sometimes inclined to do his own thing (which often made more sense). I think he would have made a better Group Chief compared to Tulloch, and I think Phoenix Group are now lucky to have Andy steering their ship!
Neo

[1robbob] 06/7/2020 10:05

Without doubt this is a major victory for the Board and Institutional Hawks. Institutions were disappointed by the appointment of AT but were prepared to give him (and the Board) the benefit of the doubt. However, there was profound disappointment with his ‘Strategic Review’. It can be of no surprise that since; then AB was appointed a NED, The Chairman has been replaced...and now AT has stepped down. I would not be surprised that the new Chairman had to reassure the Boardroom hawks on the CEOs position prior to them approving his appointment. I am bullish. We all know the Company needs to show some dynamism – starting with reshaping its sprawling mess of businesses.

[uppompeii] 06/7/2020 09:33

I know what her first job should be... with interest too

[igoe104] 06/7/2020 09:23

We just need the CFO to go next - anyone who says Aviva are paying a dividend , on a American tv, and two weeks later we get an announcement of cancellation of dividend. Jason Windsor needs to go for misleading holders.....

[wba1] 06/7/2020 09:12

Despite some comments here I believe the reason given for Tulloch's departure and wish him and his family well. Such a reason would not be given for a boardroom coup. I can also see the reason for appointing Blanc. In such unexpected situations you pretty much have to look internally or you risk it hanging over the company for months.

I have come across Blanc in the past. Her background is predominantly general insurance. I was never a fan but that may reflect my view of Towergate and Axa, where she was on the boards. Her reputation (and that certainly explained her going to Towergate) was as a top line focused exec rather than profit focused. I see her appointment as the least worse option in the circumstances, but I really hope it is intended as an interim whilst they look for a better option in the wider market.

Aviva need a CEO with a stronger life and asset management background than Blanc and someone who will focus on bottom line. An external would also come in with more credit in the bank to restructure fundamentally. So I hope we will see a new face in 12 months time, but in the meantime I hope Blanc takes the opportunity, proves me wrong and sets her own direction instead of following the direction of the past.

[p0pper] 06/7/2020 09:08

whatsup32

Amanda is currently an Independent Non-Executive Director at Aviva plc. She was appointed to the Aviva Board in January 2020 and chairs the Customer, Conduct and Reputation Board Committee. She was previously CEO, EMEA & Global Banking Partnerships at Zurich Insurance Group. Prior to that she was Group CEO, AXA UK, PPP and Ireland and has served as Chair of the Association of British Insurers and President of the Chartered Insurance Institute.

[whatsup32] 06/7/2020 08:59

Although she has been at Aviva 8 months it could be argued she was brought with a view of succession to CEO .

Board did a lousy job promoting Tulloch , I fear they maybe doing same again .

It's not like M&s Blanc has a proven trakrecord

[neophytos] 06/7/2020 08:55

"family health reasons" - Yeah right... and Jeffrey Epstein killed himself!

[dope007] 06/7/2020 08:50

Took my proft. didn't expect the bounce so quick. But Shanghai jumped and US futures jumped up. No idea why, as not looked

[lako42] 06/7/2020 08:48

Hoooooray

About time. Hopefully getting rid of MT will allow me to get out of this dog at a more respectable price.

[spud] 06/7/2020 08:41

Institutional pressure methinks. Let's hope the new broom can inject some vitality whilst simultaneously dusting down the upcoming dividend payment we are due.spud

[jubberjim] 06/7/2020 08:29

My understanding is that dear Maurice is to undergo a spinal implant and at the same time will look to grow a pair maybe some of the bod might undergo a similar transformation

[igoe104] 06/7/2020 08:10

Aviva always recuit within, they are scared of someone coming in from the outside with better ideas. They always play it safe....

[dr biotech] 06/7/2020 08:10

Gareth Southgate - at least he played at international level.

Clearly either he or a family member is ill, wish him all the best it’s not the way we wanted change.

I’m surprised at the speed of the appointment given how long it took to appoint him.

[eurofox] 06/7/2020 08:09

only one thing will matter and that is whether any more wet blanc(ets) go in a reaming out of the board room

[plootocrat] 06/7/2020 08:06

I think you mean Gareth Southgate.

[p0pper] 06/7/2020 08:04

So was Gareth Southgate (oops) for the England football team and everyone shot him down but he took us further than all other big names recently so don't write her off yet.

[plootocrat] 06/7/2020 08:02

I find it staggering that a FTSE 100 company think it is acceptable to appoint a new CEO by nodding through an existing NED without even an attempt at a thorough external search.
Ms Blanc's suitability and capability for a role of this magnitude is unproven to put it kindly.

[p0pper] 06/7/2020 07:59

But at least she is not an Aviva lifer, she has experience elsewhere in the Ins sector, so maybe a good thing, we'll see.

[cjac39] 06/7/2020 07:58

ive got no idea if she is better or worse but surely they could have cast the net wider than 6 feet across the board table.....

[whatsup32] 06/7/2020 07:50

We have new CEO .
Ms Blonk.
Unfortunately it's an internal promotion yet again .
FT