The insurance coverage business will quickly be waving goodbye to considered one of its most illustrious figures.
Sir Adrian Montague (pictured) has knowledgeable the Aviva board of his intention to retire as chairman of the insurance coverage large this 12 months – he will step down as quickly as a successor is in place. The course of to discover that person is already underway.
Montague, who took the reins at Aviva in 2015, constructed his profession as a solicitor and businessman. He labored at Linklaters and Paines from 1971-1994, earlier than switching to funding financial institution Dresdner Kleinwort and later into the general public sector because the chief govt of the Private Finance Initiative Task Force at HM Treasury till 2000.
From there, he loved spells as deputy chairman at Partnerships UK after which as chairman of British Energy from 2002-2009. In 2008, he moved into the function of chairman for Friends Provident earlier than changing John McFarlane within the chairman function at Aviva in 2015. He initially joined the insurer as a non-executive director two years earlier.
“When I became chairman in 2015, the board asked me to commit to serve for at least five years,” he defined. “Now that Maurice (Tulloch, CEO) has launched Aviva’s strategy, a new senior management team is in place and the board has been refreshed, it is also time for a new chairman. In the meantime, I remain committed to this great organisation, which I am confident will deliver for all its customers, employees and shareholders.”
Meanwhile, in an organization assertion saying the retirement, George Culmer, senior unbiased director supplied “deep thanks” to Montague for his steering.
“Adrian has chaired Aviva through a period of considerable change,” he mentioned, “and departs with our very best wishes for the strong legacy he leaves.”