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AV. Aviva Plc

496.60
0.40 (0.08%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Aviva Plc LSE:AV. London Ordinary Share GB00BPQY8M80 ORD 32 17/19P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.40 0.08% 496.60 496.80 497.00 498.50 491.60 492.20 10,711,407 16:35:21
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Insurance Carriers, Nec 41.43B 1.09B 0.3962 12.54 13.61B

Aviva PLC Directorate Change (7260I)

21/06/2017 10:37am

UK Regulatory


Aviva (LSE:AV.)
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From Mar 2019 to Mar 2024

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RNS Number : 7260I

Aviva PLC

21 June 2017

21 June 2017

AVIVA APPOINTS MAURICE TULLOCH TO AVIVA PLC BOARD

Aviva plc ("Aviva" or the "Company") has appointed Mr Maurice Tulloch as an Executive Director of the Company with effect from 20 June 2017. Maurice is currently Chief Executive Officer, International Insurance, with responsibility for Aviva's insurance operations in France, Canada, Ireland, Spain, Italy, Poland, Turkey and India.

Sir Adrian Montague, Chairman of Aviva, said:

"I am delighted that Maurice has been appointed a director of the Company given his exceptional skills and experience developed over 25 years within various roles in Aviva. Maurice is a high calibre individual, and his appointment gives further focus at Board level to the Group's European and International businesses, with the UK already being represented at Board level through Andy Briggs."

This announcement is made pursuant to Listing Rule 9.6.11.

Enquiries:

Media

   Nigel Prideaux                       +44 (0)20 7662 0215 
   Andrew Reid                          +44 (0)20 7662 3131 

Investors

   Chris Esson                             +44 (0) 207 662 8115 

Aviva's LEI code is YF0Y5B0IB8SM0ZFG9G81

NOTES TO EDITORS

Maurice Tulloch

Maurice joined Aviva in 1992. Prior to his most recent appointment as CEO, International Insurance, Maurice was Executive Chairman, Global General Insurance, a role he assumed additional responsibility for in July 2014 during his time as Chief Executive Officer of Aviva's UK & Ireland General Insurance business. As Chairman, Global General Insurance, Maurice's focus was on maximising GI's potential and growth across the Aviva Group.

Prior to this, Maurice was Chief Executive Officer of Aviva Canada a position he took up in January 2010.

Maurice has been an active industry voice both in the UK and Canadian markets. He sits on a number of our subsidiary boards, Pool Re, Insurance Development Forum (IDF) and is Chair of Climate Wise, the global insurance industry's leadership group to reduce the risks of climate change. Previously Maurice was Chair of the ABI General Insurance Council, Chair of the Insurance Institute of Canada, Chair of the Property & Casualty Insurance Compensation Corporation and Deputy Chair of the Insurance Bureau of Canada.

Maurice is a Chartered Professional Management Accountant (CPA CMA), and holds a Masters in Business Administration (MBA). He is an active supporter of the United Way and the Juvenile Diabetes Research Foundation (JDRF) and a member of the UK Catalyst Programme.

Compensation arrangements

Maurice will receive a basic annual salary of Canadian $1,196,000. He will receive a standard Executive Director Bonus opportunity of up to a maximum of 150% of basic salary annually. The bonus has strong performance targets and he will be required to defer two thirds of any award for three years, which is an increase on the 50% deferral that he has previously been subject to.

Maurice will be eligible for awards under Aviva's Long Term Incentive Plan (LTIP). While the maximum award is 350% of salary, Maurice received an LTIP award of 225% of basic salary for the 2017-19 performance period, consistent with the other Executive Directors reporting to the Group Chief Executive Officer (the Group CEO). Awards granted under the LTIP vest after three years only if specific return on equity and shareholder return targets are met. The awards are subject to a two year holding period following vesting.

Maurice will be required to build a shareholding in Aviva to the value of 200% of his basic salary and to retain 50% of the net share releases from his deferred bonus and LTIP awards until this requirement is met. This requirement has currently been met.

Maurice's remuneration is consistent with the Company's remuneration policy as detailed in the 2016 Directors' Remuneration Report and approved by shareholders in 2015, with the exception that the Board has since increased the shareholding requirement from 150% to 200% for Executive Directors other than the Group CEO, who has a shareholding requirement of 300%.

In accordance with paragraph LR 9.6.13R of the listing rules, Aviva confirms there is no information to be disclosed in terms of LR 9.6.13R (2) to LR 9.6.13R (6) inclusive in respect of Maurice Tulloch.

At the date of this announcement, Maurice Tulloch holds 306,710 ordinary shares of Aviva.

Maurice Tulloch's appointment has been approved by the PRA and FCA.

About Aviva

-- Aviva provides life insurance, general insurance, health insurance and asset management to 33 million customers.

-- In the UK we are the leading insurer serving one in every four households and have strong businesses in selected markets in Europe, Asia and Canada. Our shares are listed on the London Stock Exchange and we are a member of the FTSE100 index.

-- Aviva's asset management business, Aviva Investors, provides asset management services to both Aviva and external clients, and currently manages over GBP340 billion in assets. Total group assets under management at Aviva group are GBP450 billion.

-- Aviva helps people save for the future and manage the risks of everyday life; we paid out GBP34.4 billion in benefits and claims in 2016.

-- By serving our customers well, we are building a business which is strong and sustainable, which our people are proud to work for, and which makes a positive contribution to society.

-- The Aviva media centre at http://www.aviva.com/media/ includes company information, images, and a news release archive.

-- For an introduction to what we do and how we do it, please click here http://www.aviva.com/about-us/aviva/

   --    For broadcast-standard video, please visit http://www.aviva.com/media/b-roll-library/ 
   --    Follow us on twitter: www.twitter.com/avivaplc/ 
   --    Follow us on LinkedIn: www.linkedin.com/company/aviva-plc 
   --    For the latest corporate films from around our business, subscribe to our YouTube channel: www.youtube.com/user/aviva 

This information is provided by RNS

The company news service from the London Stock Exchange

END

BOAFMGZVLMVGNZG

(END) Dow Jones Newswires

June 21, 2017 05:37 ET (09:37 GMT)

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