Aviva's Turnaround Expert CEO to Step Down

Morningstar analysts thinks the FTSE 100 insurer needs a different set of skills now that Mark Wilson has announced his departure

Morningstar Analysts 9 October, 2018 | 12:34AM

Mark Wilson AVIVA CEO

Aviva (AV.) has announced that CEO Mark Wilson will step down as CEO with immediate effect and will leave the company on April 9, 2019. We maintain our fair value estimate of 575p, which is above the current share price of around 465p.

The announcement does come as a surprise, particularly, in our view, the short transition period to find a suitable replacement. Still, we think there have been small tell-tale signs that Wilson has been looking elsewhere, namely his appointment to the board of BlackRock in March 2018.

However, Wilson is a turnaround specialist and we think Aviva is through the worst of this. For the next stage of its development, the business needs a different set of skills; more of a steady hand on the tiller than a rescue mission.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aviva PLC283.90 GBX0.18

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