Sir Adrian Montague set to step down as Aviva chairman

An Aviva sign

Aviva chairman Sir Adrian Montague will retire later this year once a successor has been appointed.

Montague has been chairman of Aviva since April 2015, having joined the insurer as a non-executive director in 2013.

He had previously been the chairman of British Energy – now EDF – and life insurer Friends Provident, following a career that included stints at law firm Linklaters & Paines and investment bank Dresdner Kleinwort.

The company has already begun the process of appointing a successor.

Montague said: “When I became chairman in 2015, the board asked me to commit to serve for at least five years.

“Now that Maurice [Tulloch, Aviva CEO] has launched Aviva’s strategy, a new senior management team is in place and the board has been refreshed it is also time for a new chairman.

“In the meantime I remain committed to this great organisation which I am confident will deliver for all its customer, employees and shareholders.”

George Culmer, Aviva senior independent director, said: “On behalf of the board, I would like to express our deep thanks to Adrian for his service, leadership and guidance over the past seven years.

“Adrian has chaired Aviva through a period of considerable change and departs with our very best wishes for the strong legacy he leaves.

Change of leadership

Culmer is new to the role of senior independent director, having been appointed following the retirement of Glyn Barker from the board at the end of December.

Former Zurich and Axa boss Amanda Blanc also recently joined the insurer’s board, joining its nomination and risk committees and taking the reins of its governance committee – a role in which she succeeds Claudia Arney, who retired at the end of last year.

There has been change outside the boardroom. Following the appointment of CEO Maurice Tulloch in March last year, Aviva announced that it would be cutting 1800 jobs and splitting its general insurance and life businesses.

In November, its general insurance CEO Colm Holmes said that it would be reducing the number of personal lines products it offers from 400 to 40 by 2022.

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