UK insurer Aviva has announced that its Chairman, Sir Adrian Montague, is set to retire from his position later this year after five years in the role.
Montague informed the Board of Aviva that he would depart the company once a successor had been appointed.
He has served as Chairman since April 2015, having joined as a Non-Executive Director in January 2013.
“When I became Chairman in 2015 the Board asked me to commit to serve for at least five years,” said Montague.
“Now that Maurice 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 am committed to this great organisation which I am confident will deliver for all its customers, employees and shareholders.”
Aviva announced back in November 2019 that it had simplified its business structure into five operating divisions as part of a new group strategy.
At the same time, the company announced it was selling off its stake in Blue, its joint Hong Kong venture.
The Board of Aviva reported that it has now initiated a process for the appointment of a new Chairman, following Montague’s decision.
“On behalf of the Board, I would like to express our deep thanks to Adrian for his service, leadership and guidance over the past seven years,” said George Culmer, Senior Independent Director at Aviva.
“Adrian has chaired Aviva through a period of considerable change and departs with our very best wishes for the strong legacy he leaves.”
