Prudential is looking for a new boss after Chief Executive Mike Wells decided to retire at the end of March after seven years in the job.
The FTSE 100 insurer said that it was looking for a replacement who would be based in Asia after refocusing its business on that region. It is considering internal and external candidates.
Mark FitzPatrick, chief financial officer and chief operating officer, will stand in as CEO when Wells leaves. FitzPatrick has ruled himself out of the running to be CEO and will leave the company after a new boss has bedded in.
Chief Risk Officer James Turner will become CFO and Avnish Kalra, risk chief for Asia and Africa, will replace Turner.
Shriti Vadera, Prudential’s chair, said: “I would like to thank Mike for his outstanding contribution to Prudential over the last 26 years, and particularly as CEO for the last seven years.”
