RSA Insurance Group plc - Group Chief Financial Officer
RSA Insurance Group plc today announces that Richard Houghton, Group Chief Financial Officer, will stand down from the Board of Directors with effect from 7 May 2015. He will continue in his executive role but will leave the Group later this year once a successor is recruited.
Stephen Hester, RSA Chief Executive comments:
“I would like to thank Richard for his valued contribution to the company. I look forward to continuing to work with him until he leaves, to facilitate an efficient handover and to maintain our positive momentum in the interim.
“Richard joined RSA in June 2012. He has led the Finance function through challenging times since then. In 2014 important advances were made, including capital raising, balance sheet clean-up and adopting a more intensive operational rhythm. As we move deeper into the delivery of RSA's improvement plans, now is a natural point for Richard to pursue new opportunities. He will leave with our best wishes for the future.”
Notes to Editors:
- The terms of Richard's departure are in line with his contractual position and the Company's remuneration policy as set out in the Annual Report and on the company’s website.
- Richard will not offer himself for re-election to the Board at the May AGM on 8 May 2015.
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About RSA Group
With a 300 year heritage, RSA is one of the world’s leading multinational quoted insurance groups. RSA has major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East, Latin America and Central and Eastern Europe and has the capability to write business in around 140 countries. Focusing on general insurance, RSA has around 19,000 employees and, in 2014, its net written premiums were £7.5 billion.