Aviva executive director of developed markets Trevor Matthews and chief financial officer Pat Regan have emerged as potential candidates to replace group chief executive Andrew Moss.
Moss quit this week after almost five years in the role after shareholders voted against the executive pay report at the AGM last month. He will leave the firm at the end of May.
He will get his basic salary of £960,000 in lieu of 12 months’ notice and £300,000 in “full and final settlement” of his outstanding bonus claims.
Chairman designate John McFarlane has been appointed executive deputy chairman and from July 1 will be executive chairman until a new chief executive is found.
Investec analyst Kevin Ryan says Matthews and Regan could be in the running to replace Moss, along with former RSA chief executive Andy Haste.
Ryan says: “Pat Regan and Trevor Matthews are both extremely credible candidates. Given Andy Haste’s record of turning RSA around, he would be a very popular choice among investors.”
Speaking to Money Marketing, Matthews says: “We have got to get the best possible person for the job and that means looking around the world as well as within the company.”