FT Alphaville " Moss to step down as Aviva CEO Whoah. Aviva announces Andrew Moss to step down as CEO John McFarlane to assume executive duties with immediate effect Aviva plc announces that Andrew Moss, Chief Executive Officer, will be leaving the group and will cease to be Chief Executive with immediate effect. The Board has asked Chairman Designate John McFarlane to become interim Executive Deputy Chairman with immediate effect and Executive Chairman from 1st July pending the appointment of a new Chief Executive Officer. The Board has asked him to maintain this executive role whilst internal and external candidates are assessed to find the very best candidate for the CEO role. It is envisaged that this process will take a number of months, at the conclusion of which he will revert to the role of non-executive Chairman. Lord Sharman, Chairman of Aviva, confirmed that Andrew Moss had approached him with the decision that he felt it was in the best interests of the company that he step aside to make way for new leadership. He has offered to assist in any way he can to ensure a smooth transition. Lord Sharman said: We should acknowledge the progress that has been achieved under Andrew Moss's leadership. Through the global financial crisis he led the consolidation of our international presence and the integration of 40 brands into the very powerful single Aviva brand. He reduced the cost base, improved operational performance and more recently began the implementation of the strategic focus, with the sale of RAC, the deconsolidation of Delta Lloyd and a number of overseas disposals. The Board of Aviva appreciates the contribution he has made both in his role as Chief Executive Officer, and prior to that as Group Finance Director, and wishes him well with the next phase of his career. Andrew Moss will leave the Board shortly and a further announcement will be made to confirm the financial terms of his departure and date of leaving. In regard to John McFarlane's additional responsibilities, Lord Sharman said: Aviva's shareholders are in very good hands. His leadership and shareholder credentials are impeccable having transformed ANZ during his tenure as CEO, as well as making a significant contribution to the improvement in shareholder value at Standard Chartered prior to that. The full statement can be viewed here, but for those who want a reminder; this follows a rejection of the 2011 pay report by about 54 per cent of investors. From the FT: Andrew Moss, who last year received £2.69m in salary and bonuses, made a concession to investors unhappy with the group's performance by turning down a £46,000 pay rise. However, it wasn't about the pay so much as performance, and particularly the looming failure to meet Moss" self-imposed target, set in 2007, of doubling earnings per share by the end of this year. As one unidentified top 10 shareholder told the FT last month: The issue over remuneration is not about tinkering . . . but a bigger question about whether the company needs a new chief executive. Related links: Aviva faces pressure on pay plans - FT Aviva considers plan to sell US business - FT This entry was posted by Kate Mackenzie on Tuesday, May 8th, 2012 at 7:37 and is filed under People. Tagged with andrew moss, aviva.