24th Mar 2005 07:30
Prudential PLC24 March 2005 Embargo: 07.30 24 March 2005 Prudential plc announces the appointment of Mark Tucker to succeed Jonathan Bloomer as Group Chief Executive The Board of Prudential plc ("Prudential") announces the appointment of MarkTucker as Group Chief Executive. Jonathan Bloomer, who has been Group ChiefExecutive since March 2000, will be leaving the company on 5 May 2005. Mark Tucker, aged 47, currently Group Finance Director at HBOS plc, will jointhe Prudential Board on 6 May. Mark previously worked for Prudential from 1986 to 2003. He was an ExecutiveDirector of Prudential from 1999 to 2003 and Chief Executive of PrudentialCorporation Asia from 1993 to 2003. In this role he developed and implementedthe strategy that transformed Prudential's business in Asia to become one of thetop two international life insurance groups in the region. Sir David Clementi, Chairman of Prudential, said: "Mark's background and experience mean that he is well suited to lead Prudentialto the next stage in the Group's development. He is widely respected in theindustry and across the financial community. He has broad and relevantexperience of the financial services market in our three key regions supportedby a track record of success in growing profitable businesses for Prudential.His breadth of experience of Prudential's business is complemented by a freshperspective on the UK financial sector as a result of his current role at HBOS.We are delighted to be welcoming him back and look forward to the contributionto the Group's success that he will make. "At the same time, personally and on behalf of the Board, I would like to thankJonathan for his significant contribution over the last ten years, first asGroup Finance Director and then as Group Chief Executive. The Group is in goodhealth and we are delivering strong growth in all our businesses. Jonathan hasbrought Prudential through one of the severest markets the insurance sector hasexperienced and has overseen a complete re-engineering of the UK business whichcontributed to the very good results delivered in 2004. We wish him well for thefuture." Mark Tucker said: "I am delighted to be coming back to Prudential at this exciting time in theGroup's development, and I look forward to working with the Board and themanagement team." Jonathan Bloomer, Group Chief Executive of Prudential, said; "I am pleased that Prudential is in terrific shape and I am confident that thecurrent strategy and momentum will continue to deliver to shareholders. There isa strong team in place and all four core businesses have delivered recordprofits. We have had to manage the company through difficult times and noteverything has made us popular but my job has been to lead a transformation andPrudential is now set fair to deliver further substantial growth and returns.Obviously I am extremely disappointed with the Board's decision, but I wish themall the best." Enquiries Rebecca Burrows, Group Communications Director, Prudential Plc 020 7548 3537 Mike Smith / Kate Holgate, Brunswick 020 7404 5959 Media Steve Colton 020 7548 3721 Joanne Davidson 020 7548 3708 Investors / analysts Marina Lee-Steere 020 7548 3511 Notes to Editors: 1. Sir David Clementi will be holding a conference call at 08.00 for wire journalists. Dial-in number is +44 (0) 20 7031 4064. Please quote 'Prudential' and 'Rebecca Burrows' to access. 2. Mark Tucker is a Chartered Accountant and has a strong track record in the financial services sector. Since May 2004, he has been Group Finance Director at HBOS plc. From 1993 until 2003 he was Chief Executive of Prudential Corporation Asia, and has also held senior positions in Prudential's businesses in the UK and US. He first joined Prudential in 1986, having previously been a tax consultant. His CV is set out below: Since May 04 Group Finance Director, HBOS Dec 93 - Jun 03 CEO, Prudential Corporation Asia Executive Director Prudential Plc Jun 92 - Nov 93 Senior Vice-President, Jackson National Life, USA Nov 89 - May 92 General Manager, Prudential Assurance Co Hong Kong Jun 87 - Oct 89 Assistant Director, Prudential Plc Nov 86 - May 87 Financial Controller, Prudential Venture Managers Jan 86 - Oct 86 Controller, North American Investment Operations, Prudential Portfolio Managers Limited Born 29/12/1957 *Prudential plc, a company incorporated and with its principal place of businessin the United Kingdom, and its affiliated companies constitute one of theworld's leading financial services groups. It provides insurance and financialservices directly and through its subsidiaries and affiliates throughout theworld. It has been in existence for over 150 years and has £187 billion inassets under management, as at 31 December 2004. Prudential plc is notaffiliated in any manner with Prudential Financial, Inc, a company whoseprincipal place of business is in the United States of America. Forward-Looking Statements This statement may contain certain "forward-looking statements" with respect tocertain of Prudential's plans and its current goals and expectations relating toits future financial condition, performance, results, strategy and objectives.Statements containing the words "believes", "intends", "expects", "plans","seeks" and "anticipates", and words of similar meaning, are forward-looking. Bytheir nature, all forward-looking statements involve risk and uncertaintybecause they relate to future events and circumstances which are beyondPrudential's control including among other things, UK domestic and globaleconomic and business conditions, market related risks such as fluctuations ininterest rates and exchange rates, and the performance of financial marketsgenerally; the policies and actions of regulatory authorities, the impact ofcompetition, inflation, and deflation; experience in particular with regard tomortality and morbidity trends, lapse rates and policy renewal rates; thetiming, impact and other uncertainties of future acquisitions or combinationswithin relevant industries; and the impact of changes in capital, solvency oraccounting standards, and tax and other legislation and regulations in thejurisdictions in which Prudential and its affiliates operate. This may forexample result in changes to assumptions used for determining results ofoperations or re-estimations of reserves for future policy benefits. As aresult, Prudential's actual future financial condition, performance and resultsmay differ materially from the plans, goals, and expectations set forth inPrudential's forward-looking statements. Prudential undertakes no obligation toupdate the forward-looking statements contained in this statement or any otherforward-looking statements it may make. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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