Prudential Group CEO Mike Wells To Retire

(RTTNews) - Prudential plc (PRU.L, PUK), on Thursday, announced that Group CEO Mike Wells has planned to retire from his role at the end of March 2022 and accordingly, will not stand for re-election as a Director at the next Annual General Meeting.

Given the refocused nature of the business, the Board is conducting a search for a Group CEO to be based in Asia to succeed Wells, which includes both internal and external candidates.

Further, the company noted that its Group CFO and COO Mark FitzPatrick, will become Interim Group CEO when Wells steps down in March. In addition to leading the Group and continuing as COO, he will assist the incoming Group CEO in completing the transition process, as required. Thereafter he will step down from the Board and remain available to the company as an adviser for a period.

Meanwhile, Nic Nicandrou, CEO Asia and Africa, remains responsible for leading all of Prudential's life insurance and asset management businesses across Asia and Africa and will continue to focus on their operational performance.