Aviva PLC AV. Directorate Change

  Aviva PLC (AV.) - Directorate Change

RNS Number : 5840R
Aviva PLC
20 November 2012

20 November 2012


Aviva plc ("Aviva"  or the "Company")  today announces that  Mark Wilson  will 
join the Board of the Company on 1st December 2012 andbecome Chief  Executive 
Officereffective 1stJanuary 2013. 

John McFarlane,  Chairman  of Aviva,  who  has  been acting  in  an  executive 
capacity pending the appointment of a CEO, will become non-executive  Chairman 
on 1st January 2013.

Mark was  Chief Executive  Officer and  President  of AIA  Group, one  of  the 
world's leading insurance companies.  During his tenure  at AIA, between  2006 
and 2010, he transformed AIA  with the company emerging  as a strong and  more 
valuable independent business.  Against the backdrop  of the global  financial 
crisis, he generated  significant shareholder value  and prepared the  company 
for IPO, increasing its value to $36 billion at the time of listing. AIA today
has a market capitalisation in excess of $46 billion.

Mark has over twenty-fiveyears'  experiencein the insurance  industryacross 
life and generalinsurance as well  asasset management in both  mature 
and emerging markets.Since  leaving AIA,  Mark has been  involved in  private 
equity withBlackstone and other private equity firms.

John McFarlane,Chairmanof Aviva, said:

"I am delighted we have secured Mark for Aviva. His leadership credentials are
incredibly strong.  He has  an outstanding  track record  of leading  a  major 
insurer, of transforming its performance and culture, of implementing a growth
agenda and  of  producing significant  shareholder  value, all  of  which  are 
essential for Aviva's success going forward.

"Mark has operated in both developed and emerging markets. At AIA, Mark  faced 
similar challenges to Aviva 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. 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.

"Mark inherits a professional management team at Aviva which has over the past
few months generated  new momentum.  I would  particularly like  to take  this 
opportunity of thanking Pat Regan and the  other members of the team for  this 
achievement and the support that they have given me."

Mark Wilson said:

"It is aprivilege  to lead  Aviva, an organisation  with such  a rich  legacy 
andpedigreeand many talented and dedicated  people. It is acknowledged  that 
over recent  yearsthe  Company  has  not  performed  to  its  potential.  The 
Chairman, John McFarlane,and  the Board have  articulatedthe 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 andI intend to  pursue 
the execution with rigour and focus. 

"My  first  task  will  be  to  listen  to  Aviva's  stakeholders,   including 
customers,shareholders,  staff   and   regulators  and   ascertainthe   key 
concernsand opportunities that face the business. There issubstantial  work 
to do. I am looking  forward to taking up  this appointment and excited  about 
the future prospects for Aviva."



Nigel Prideaux​​ +44 (0)20 76620215

Andrew Reid +44 (0)20 7662 3131


Charles Barrows​​ +44 (0)20 7662 8115

Compensation arrangements

Mark Wilson will receive a basic annual salary of £980,000. He willreceivean
annual bonus opportunity for 2013,  that will pay up to  a maximum of 150%  of 
salary, subject to strict performance conditions and the requirement to  defer 
two thirds of any award made into Aviva stock for a further three years.

Mr Wilson will be eligible for the  grant of an award under Aviva's Long  Term 
Incentive Plan for 2013 of 300% of basic salary. The long term incentive  plan 
awards are made annually at thediscretionof theRemunerationCommitteeup to
a maximum of 350% of basic annual  salary. Awards granted under the Long  Term 
Incentive Plan vest after three years and only if specific shareholder  return 
targets are met.

Mr Wilson will be required  to build a shareholding in  Aviva to the value  of 
200% of his basic salary and will be  required to retain 50% of the net  share 
releases from hisdeferredbonus  and long  term incentive  awards until  this 
requirement is met.

Mr Wilson  will  notreceiveany  'Buyout' compensation  for  previous  reward 
arrangements. In addition Mr Wilson will receive the standard Aviva  executive 
benefits package  and assistance  with relocation,  details of  which will  be 
disclosed in the normal way.

John McFarlane elected not  toreceiveany increase in  fees for the  duration 
that he has been performing the duties of executive Chairman and his fee  will 
remained unchanged when he  reverts to the role  of non-executive Chairman  on 
1st January 2013.

Biographical information onMark Wilson

Mark Wilson  has extensive  experience leading  major international  insurance 
companies, across life  insurance, general insurance  and asset management  in 
mature and emergingmarkets.

Most recently Mark was Chief Executive Officer and President of AIA Group, the
fifth largest insurance group in the world.

During his  tenure  at AIAbetween  2006and  2010, Mark  repositionedAIA  to 
become  the  leading  pan-Asian   insurance  company,  improving  its   market 
valuationto $36  billion at  IPO. AIA  todayhas a  market capitalisation  in 
excess of $46 billion.

Mark successfully  navigated  AIA  through the  global  financial  crisis  and 
prepared it for IPO with the company emerging as a stronger and significantly
more valuable independent entity.

He  led  the  transformationstrategy,   Fast  Forward,which  rebranded   all 
companies  to   AIA,broadened   AIA's   distribution   to   a   multi-channel 
model,anddelivered a new customer centric  approach to service, across  both 
life   and    general    insurance.Non-performingor    capital    intensive 
businesseswere    turned     round     or    disposed     of.     Theproduct 
portfoliowasre-priced, solvency ratios  improved and expenses  substantially 
reduced to be  redirected into transformational  growth initiatives. He  also 
led the  transformationof AIA's  culture by  removing silos  and embedding  a 
consistent set of values and approachacross the company.

Prior to  AIA, Mark  was CEO  of AXA  China Region  Limited, AXA's  Hong  Kong 
business, between 2003 and 2006 with  a brief to invigorate a mature  business 
with a  flagging  market position.  Mark  was responsible  for  a  significant 
improvement in the  business's financial returns,  expanding distribution  and 
increasing operating profit.  He also  integrated the  aquired MLC  businesses 
into AXA, adding immediate value by substantially reducing operating costs.

Prior to that  from2001to2003,Mark was  CEO of AXA  Asia Pacific  Holdings 
Limited, AXA's  South East  Asian  business, leading  AXA's presence  in  five 
countries.In this  role he  developed  and executed  an acquisition  of  Bank 
Mandiri's Indonesian insurance  subsidiary to  form an insurance  JV with  the 
bank which generated substantial shareholdervalueover five years and enabled
AXA to become a leader in the fast growing Indonesian market.

For the first twelve years of his  career, between 1987 and 1999, Mark held  a 
number of roles  at National  Mutual in New  Zealand and  Australia, where  he 
progressed through manyof the  major business functions,  gaining a deep  and 
broad knowledge of the businesses in these mature markets.

A   New   Zealander,   Mark   (46)has   aBachelorof   Management    Studies 
fromtheUniversity of Waikato.  He is  married with three  children and  his 
interests include fitness, sport, music and fishing.

Notes to editors:

· 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 Mark Wilson.

· Mark Wilson was  previously Group Chief  Executive Officer &  President, 
AIA Group Limited.

· At  the  date  of  this  announcement,  Mark  Wilsonhas  no  beneficial 
interests in ordinary shares of Aviva.

· Mark Wilson'sappointment  has been approved  by the Financial  Services 

· Aviva  provides  43  million  customers  with  insurance,  savings  and 
investment products.

· We are the UK's largest  insurer and one of Europe's leading  providers 
of life and general insurance.

·  We  combine  strong  life  insurance,  general  insurance  and   asset 
management businesses under one powerful brand.

· We are  committed to serving  our customers  well in order  to build  a 
stronger,  sustainable  business,  which  makes  a  positive  contribution  to 
society, and for which our people are proud to work.

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

·     A     photograph     of     Mark     Wilsonis     available     at 

· Follow us on twitter: www.twitter.com/avivaplc

                     This information is provided by RNS
           The company news service from the London Stock Exchange


BOADMMZMZGRGZZM -0- Nov/20/2012 12:52 GMT
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