Maurice Tulloch appointed Aviva CEO after five-month search
Maurice Tulloch appointed Aviva CEO after five-month search
Aviva today appointed Maurice Tulloch as group chief executive officer, ending a five-month search following the departure of Mark Wilson. Tulloch replaces Wilson, who stepped down from the role last October.
Aviva said its board took the unanimous decision to appoint Tulloch on Sunday night, ahead of Monday’s announcement. Company chairman Adrian Montague, who had temporarily stepped in as CEO during the search, will now revert to his role as non-executive chairman.
Tulloch first joined Aviva in 1992 and spent more than two decades with the group before taking the top job. He is a Chartered Professional Accountant (CPA, CMA) and holds an MBA.
Under his new contract, Tulloch will receive a basic salary of £975,000. He will also be eligible for a pro-rated annual bonus opportunity with a maximum payout of up to 200% of salary.
In addition, Tulloch is eligible to receive an award under Aviva’s 2019 long-term incentive plan, which typically pays out 300% of base salary. His package includes Aviva’s standard executive benefits, including pension contributions of 14% of salary.
Aviva will pay Tulloch £250,000 to assist with his relocation from Canada as he moves into the London-based role.
--- Sources: https://www.aviva.com/newsroom https://businessandfinance.com/aviva-maurice-tulloch-ceo/
