11th Dec 2020 09:40
(Alliance News) - Admiral Group PLC on Friday said the handover of chief executive duties to Milena Mondini de Focatiis from David Stevens has been completed.
As announced in March, Stevens will retire as CEO of the Cardiff-based motor insurer on December 31 but will continue to work for Admiral part-time to provide consultancy support on risk selection and to be a board member for Admiral Financial Services Ltd.
Stevens, a co-founder of Admiral in 1991, has been CEO since May 2016. Mondini de Focatiis first joined the company in 2007 but has only been head of Admiral's UK & European Insurance business since July last year.
Chair Annette Court said: "The CEO transition has gone very smoothly. Milena is deeply embedded in the Admiral culture with an entrepreneurial spirit, excellent people development skills, and a strong commercial track record having founded the group’s Italian insurer, ConTe, and further strengthened the group’s other European businesses. She will lead a very strong and experienced management team that is ideally positioned to take forward David’s work and to build an even stronger Admiral for the future."
Shares in Admiral were up 0.8% at 2,876.00 pence in London on Friday.
By Zoe Wickens; [email protected]
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