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Wilson's surprise departure from top job

New Zealand Mark Wilson has been ousted from his role as chief executive of British insurer Aviva.

Friday, October 12th 2018, 6:00AM

The former National Mutual and Axa boss was appointed to the multi-million-pound position in 2013.

But the insurer issued a statement this week saying that he and the board had decided it was time for him to move on.

There were rumours of a "boardroom coup" over frustrations that his restructure of the insurer had not happened quickly enough.

Aviva said Wilson would remain with it until 2019 to assist with the transition to new leadership.

"Mark was brought in to deliver the turnaround of Aviva. The board and Mark believe that given the turnaround has been successfully completed, it is time for new leadership to take the group to the next phase of its development," Aviva said in a statement.

"The search for a successor will commence immediately, with internal and external candidates being considered. The process is expected to be completed within the next four months."

Non-executive chairman Adrian Montague will take over in the meantime.

Wilson oversaw Aviva shifting from 28 markets to 14, growing its operating profit and strengthening its balance sheet.

"When I joined Aviva, the company was in poor health. Aviva is very different today," Wilson said.

"I have achieved what I wanted to achieve and now it’s time for me to move on to new things. It has been an honour to lead Aviva through this period of immense change.  I am happy I leave the company in a strong position from which it can thrive. I would like to thank all those within and outside Aviva who have supported the successful turnaround and I wish everyone in Aviva the very best for the future.”

Tags: Mark Wilson

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