Aviva News Update: Mark Wilson Plans To Revive Aviva
Aviva news update: Mark Wilson has plans to revive Aviva the Daily Telegraph has reported, as Wilson fights off his rival Patrick Snowball for the top job.
Recently appointed Mark Wilson has announced the first financial results for the period that he has been in charge at Aviva. The company showed a healthy and solid profit in the period leading up to June of this year, before tax, of seven hundred and seventy six million pounds. This figure was even more impressive when it was compared to the figures for the same period last year that showed the company had made a six hundred and twenty four million pound loss under the previous chief executive office, Andrew Moss.
With this taste of success Wilson is apparently planning a major revamp at Aviva. The name of the company will remain the same however, Wilson, who comes form New Zealand, plans to turn the company into a very different looking concern. Top of the list of priorities for the new chief executive officer is to capitalise on the cost cutting and disposal measures that were initially started by a pervious chairman, John McFarlane. There have already been announcements that there will be lay offs and 2000 jobs are due to be lost. Aviva has already bowed out from its American business that had been previous chairman Moss’s prize procurement for the company. Aviva has also decreased its Delta Lloyd holdings. Further cuts have been made to business under the Aviva flag in countries where it has been judged that those businesses would never achieve the position of market leader or where the business growth rate made it unfeasible to carry on trading.
Updates on Aviva
In the first 8 months of his time in office at Aviva the strategy Wilson has outlined has been well received by investors and shareholders. The new broom appears to be popular and shares on the stock market have responded accordingly, showing the biggest rise on the FTSE 100 as well as representing the biggest rise in share price for Aviva for the past two years.
Talking about the future growth of the company Wilson was at pains to assure investors that above all he wanted to concentrate on being steady and reliable. The boring but reliable mantra may be what Wilson is happy to be known by for the time being and may be the best policy as investors seem very happy with the Aviva boss’s balanced approach.
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