There is blood on the board room carpet at Aviva after the insurance giant restructured its management structure to reflect the fact it now operates in fewer countries than in days of yore.
"We have decided to remove the regional layer of our structure and are appointing the leaders of our three major businesses to the Group Executive Committee (GEC)," the company said.
David Barral, the Chief Executive Officer (CEO) of UK & Ireland (UK&I) Life Insurance, David McMillan, the CEO of UK&I General Insurance and Philippe Maso, CEO of France, will all join the GEC, and will report directly to group CEO Andrew Moss. Chris Littlefield, CEO of Aviva USA, will also report to Andrew Moss from now on.
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Trevor Matthews will be Executive Director of Developed Markets (UK&I, France, Spain, Italy, USA and Canada). In this role he will chair the UK & Ireland Board and be directly responsible for Canada, Italy and Spain. Trevor will also be responsible for developing the key group-wide capabilities of underwriting, pricing and claims management.
Simon Machell will be CEO, Higher Growth Markets (Asia, Poland, Turkey and Russia).
Igal Mayer (CEO of Aviva Europe), Richard Hoskins (CEO of Aviva North America) and Alain Dromer (CEO of Aviva Investors) did not make the cut and will be leaving Aviva, with the usual good wishes from the man who showed them the door ringing in their ears.
Pat Regan will continue as Group Chief Financial Officer and will assume responsibility for Aviva Investors. John Ainley (Group Human Resources), Amanda Mackenzie (Chief Marketing & Communications Officer), Cathryn Riley (Chief Operating Officer), and Robin Spencer (Chief Risk Officer) will continue as members of the GEC.
"The changes I am announcing today will result in a simpler and more efficient organisation which will deliver further operational benefits, accelerate delivery of our strategy and provide opportunities for profitable growth," Moss claimed.
More detail on Aviva's plans for the new market groupings (Developed Markets and Higher Growth Markets) and the cost savings associated with these changes will be set out at the investor and analyst event on May 24th, 2012.
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