Direct Line Group has hired Aviva’s Jane Poole as Group Chief Financial Officer (CFO), subject to regulatory approval.
In an announcement made by the company, it was revealed that Poole will join the Board in October 2024, succeeding Neil Manser who has been in post since January 2021.
Currently, Poole serves as CFO for Aviva‘s UK and Ireland General Insurance business, a role she has held since 2021.
Before joining Aviva, she served as CFO for Royal & Sun Alliance (RSA) UK & International businesses, having held senior Finance roles at the insurer since 2006.
In addition, Poole qualified as a Chartered Accountant with PricewaterhouseCoopers.
Meanwhile, Manser has been with the company since 2011, and has served as CFO since January 2021.
Manser played a key role in the firm’s successful IPO in 2012 and has helped direct the business through a series of external challenges in recent years.
From what we understand, Manser will remain serving as CFO until Poole arrives to ensure an orderly transition of responsibilities.
Danuta Gray, Chair of Direct Line Group, commented: “The Board is delighted to welcome Jane Poole as our new Group CFO. Jane has impressive experience in the UK general insurance market and an enviable record of success in leading teams in personal and commercial lines insurance. The Board conducted an extensive search to secure such a high calibre appointee and I am confident that Jane Poole will be a great asset to our organisation. At the same time, I would like to thank Neil Manser for steering the Group through what has been a challenging time and the part he has played in stabilising the business for the future.”
Jane Poole, Group CFO designate of Direct Line Group, said: “I am delighted to be joining Direct Line Group as CFO at this important time and motivated to drive business performance to realise the significant potential ahead for the Group. I am looking forward to joining the Board and leading the Finance function as the organisation looks to drive growth, deliver on its commitments to serving its millions of customers and creating long-term sustainable shareholder value.”
In related news, Ageas SA/NV has said that following the rejection of the two recent attempts to engage with the Board of Directors of Direct Line Insurance Group plc, it will not make an offer for the firm.
If our readers recall, on 19th January 2024, Ageas provided the Board of Direct Line with an initial possible offer proposal to acquire the entire issued and to be issued share capital of Direct Line.
Moving forward, the terms of the Initial Possible Offer were then improved on 9th March 2024 and set out in an announcement on 13th March 2024.
Ageas believes that the proposal, on these terms, would have created significant value for both groups of shareholders and other stakeholders.
