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Aviva Chief Executive in surprise exit

After serving for five years as a Chief Executive of United Kingdom’s largest insurer Aviva, Mark Wilson is stepping down from his position.

Back in 2012, Aviva appointed Mark Wilson as chief executive. Before that Mr. Wilson ran AIA, a life insurance company which he kept afloat during its financial crisis in 2010 where it was bailed out by the US government. Because Mr. Wilson had saved Aviva this time from a similar crisis that befell on AIA, investors argued that they will new a new leadership, as his original mission has been completed and Aviva’s shareholders were not amused due to Mr. Wilson taking up a position on the board of US asset manager BlackRock, which is a rival to Aviva’s asset management.

The exit was done after the company declared that it was time for a new leadership and will take a new phase of its development.

Mark Wilson assumed the position in January of 2013 that have brought the company into a turnaround. He recently announced that he is stepping down from his role that has shocked the business community.

The company has announced that its current non-executive chairman Sir Adrian Montague will assume the responsibilities as the executive until the company will find a successor for the role. The company also said that the search for a new candidate will “commence immediately” and will be done in the course of four months.

Mr. Wilson said in a comment that before he received the role, the company was in poor condition. Now that he achieved what he wanted, it is time for him to move on to new things. He added that it has been an honor to have lead a company like Aviva through a period of immense change and is happy to leave the company where it is now in a strong position from which it can thrive.

In a statement, Aviva said that Mr. Wilson will stay in the group until April next year with a Garden Leave during those times, he will still receive his salary and contractual benefits.