12th May 2015 08:42
LONDON (Alliance News) - Prudential PLC Tuesday said its group chief risk officer is stepping down after almost two years in the role.
In a statement, the life insurance company and FTSE 100 constituent said Pierre-Olivier Bouée will step down as group chief risk officer on June 30, though he will cease to be a member of the board one month before that. He joined Prudential in 2008 and became chief risk officer in August 2013.
Prudential is yet to name Bouée's successor but said a replacement will be announced in due course. The news means that Mike Wells, who is set to become chief executive in June as Tidjane Thiam departs for Credit Suisse AG, will work with a new risk chief when he takes the helm
"The board has a strong focus on succession planning and a process has already begun," Chairman Paul Manduca said in a statement.
Bouée said he is stepping down to pursue a new challenge but did not specify what that will entail.
"It has been a privilege to work at Prudential since 2008, during which time the Group has grown profitably to become one of the world's leading financial services businesses, while working within a balanced, prudent risk appetite. I have decided now is a good time to seek a new challenge," he said.
Prudential shares were down 2.2% at 1,611.00 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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