21st Sep 2007 07:01
Prudential PLC21 September 2007 For Immediate release PRUDENTIAL PLC ANNOUNCES THE FOLLOWING CHANGES TO ITS BOARD The Board of Prudential Plc ("Prudential") is pleased to announce theappointment of Tidjane Thiam as Group Finance Director as successor to PhilipBroadley. Tidjane is expected to join the Prudential Board in April 2008 as an ExecutiveDirector. Tidjane joins from Aviva where he is currently Chief Executive Officer, Europe.He has also held the positions of Group Strategy and Development Director andManaging Director, Aviva International. Prior to Aviva, Tidjane was a partnerwith McKinsey & Company in France and Minister of Planning and Development ofCote D'Ivoire. To ensure a smooth handover of responsibilities, Philip will remain on the Boarduntil the Annual General Meeting on 15 May 2008 and be responsible for the 2007financial statements. Philip will leave the Group on 31 May 2008. Commenting, Mark Tucker, Group Chief Executive, said: "I am truly delighted to welcome Tidjane to Prudential. Tidjane's diversebackground and experience mean that he is well-suited to help lead Prudential tothe next stage of its development. He is widely respected in the industry andhas a great reputation for optimising performance and value. I look forward tothe strong contribution he will make to the Board. "I am very sorry Philip is leaving us. He will do so after eight years, duringwhich time he has made a great contribution to Prudential and been a valuedpartner to me as Group Chief Executive. We wish him all the very best for thefuture. I am pleased that we have managed to have such a well defined and smoothtransition plan." Commenting, Philip Broadley said: "I have really enjoyed my time at Prudential, working with a talented group ofcolleagues. Next year I will have completed eight years as Group FinanceDirector and it is the right time to look for fresh challenges." Commenting, Tidjane Thiam said: "I am delighted to be joining Prudential at this time of rapid growth.Prudential is one of the best performing players in the industry with anoutstanding team and a great outlook." ENDS Enquiries: Media Investors/Analysts Jon Bunn 020 7548 3559 James Matthews 020 7548 3561Claire Glover 020 7548 2007 Notes to Editor: 1. About Tidjane Thiam Tidjane Thiam, 45, joins Prudential from Aviva where he was Chief ExecutiveOfficer, Aviva Europe. Previously Mr Thiam's roles included Group Strategy andDevelopment Director. He joined Aviva in 2002 and is also a Non ExecutiveDirector of ARKEMA, a French listed Petrochemical business. Prior to joining Aviva, Mr Thiam enjoyed a career in Paris with McKinsey & Co(France), most recently as a Partner and a leader of McKinsey's FinancialInstitution Group in France. Mr Thiam was CEO of the National Bureau for Technical Studies in the Ivory Coastand Minister of Planning and Development. He is a French citizen and he is a graduate of INSEAD - Institut Europeend'Administration des Affaires, Fontainebleau, MBA, 1988 (Dean's list). He alsograduated from Ecole Nationale Superieure des Mines de Paris in 1986 and EcolePolytechnique in 1984. He is a member of Council of ODI (Overseas Development Institute) and has beenappointed by Kofi Annan (Chairman) to be a Member of the Africa Progress Panel. Awards 2007: INSEAD alumnus of the year.1999: Nominated member of the "Dream Cabinet" awarded by the World Economic Forum every year to 12 ministers with outstanding achievement. He currently resides in London with his wife and two sons. 2. About Prudential Prudential plc is a company incorporated and with its principal place ofbusiness in England, and its affiliated companies constitute one of the world'sleading financial services groups. It provides insurance and financial servicesdirectly and through its subsidiaries and affiliates throughout the world. Ithas been in existence for over 150 years and has £257 billion in assets undermanagement as at 30 June 2007. Prudential plc is not affiliated in any mannerwith Prudential Financial, Inc, a company whose principal place of business isin 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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