Aviva is looking for a new chairman after Sir Adrian Montague announced he is to retire from the company.
The insurance giant, which is a major employer in Perth and Bishopbriggs, said today Sir Adrian would step down this year once a successor has been appointed. He had been a non-executive director since January 2013 and was appointed chairman to succeed John McFarlane in April 2015.
The move comes nine months after Falkirk-born Maurice Tulloch was named chief executive of the group, replacing Mark Wilson. In September last year, Sir Adrian, a former lawyer with Linklaters who also worked for Dresdner Kleinwort bank, became chairman of the advisory committee of financial services lobbying group TheCityUK.
Sir Adrian said: "When I became chairman in 2015 the Board asked me to commit to serve for at least five years. Now that Maurice 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 customers, employees and shareholders".
Senior independent director George Culmer 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."
