Written by Ellis Ian Fields

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Tuesday, 8 May 2012

image for Aviva Boss Andrew Moss Steps Down - Shouldn't Have Changed Name, Says Expert
Change the name, would you?

Insurance firm Aviva has announced that chief executive Andrew Moss will be leaving with immediate effect.

Observers say the shock announcement follows the embarrassment of losing a shareholder vote on executive pay at the annual meeting last week.

But one top finance expert believes the trouble goes much deeper than executive pay.

EIF News & Features Business Editor Tom Cash says: "It's all about the name - the shareholders are finally getting their revenge for changing the name from Norwich Union.

"My sources tell me they've been seething about this Aviva nonsense for ages and now all this pay stuff gave them the excuse to stick it to Moss good and proper."

Chairman designate John McFarlane will take on the role on an interim basis.

Aviva shares rose five per cent in early trading following the announcement.

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