Aviva announce Andrew Moss Quits

Home Insurance provider Aviva have today announced that Andrew Moss will quit after the share holder's didn't back the companies remuneration report .

Mr Moss ( chief executive officer ) has worked at the company since 2007 and has had a pay increase rejected by appropriately 54% of the shareholders . This is only the 4th time this has happened to a FTSE 100 company .

John McFarlane will immediately take the position of interim executive deputy chairman and will be appointed as  executive chairman on 1st July providing a new chief executive is appointed .

Aviva's chairman , Colin Sharman made this statement " We should acknowledge the progress that has been achieved under Andrew Moss' leadership,Through the global financial crisis, he led the consolidation of our international presence and the integration of 40 brands into the very powerful single Aviva brand. He reduced the cost base, improved operational performance and more recently began the implementation of the strategic focus, with the sale of RAC, the de-consolidation of Delta Lloyd and a number of overseas disposals."

John McFarlane will be undertaking a review of Aviva's business to check their markets and business segments.

Aviva is the world's 6th biggest insurance group with income and investment sales at £47.1 billion in 2010 . They have 44.5 million customers and their products include insurance , savings and investment products .



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