The Chief Executive of Aviva, Andrew Moss had resigned from his position with immediate. The resignation comes just days after shareholders voted down the insurance company’s pay policies. As per Aviva’s current chairman, Lord Sharman - Andrew Moss tendered his resignation since – "he felt it was in the best interests of the company that he step aside to make way for new leadership".
The company had faced "significant" vote against its remuneration report, despite making concessions over its directors’ remuneration. Aviva had earlier said that chief executive Andrew Moss would not receive a pay rise this year, and the company would review the payment of "golden handshakes" for new executives.
Aviva’s leading investors will stage a protest over executive pay at the insurer’s annual meeting in London on Thursday.
The Chairman Designate John McFarlane would take on his duties until a new chief executive was appointed.
The departure of Moss comes amid fresh investor activism in the UK which has lead to the exit of — David Brennan, chief executive of AstraZeneca, and Sly Bailey, chief executive of Trinity Mirror.
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Aviva chief executive steps down after shareholder revolt