London-based Aviva announced that CEO Andrew Moss will step down from his post immediately.
Chairman Designate John McFarlane will become interim Executive Deputy Chairman immediately and Executive Chairman from July 1 pending the appointment of a new CEO. Aviva's Board will assess both internal and external candidates. He is currently a non-executive director of Westfield Holdings Limited and of Old Oak Holdings Limited, having retired from his post as Australia and New Zealand Banking Group CEO in 2007.
“Aviva is a leading company in the insurance sector and I’m excited to play a pivotal role in its transformation and future," McFarlane says in a statement. "My first priorities are to regain the respect of our shareholders by eliminating the discount in our share price and to find internally or externally the very best leader to be our future CEO. I will meet all of the major investors over the coming days and weeks.”
[Read how Aviva USA CIO John Frazee refocused the company's technology investment.]