Prudential PLC Chair succession effective 1 January 2021 (4851H)
03 Dezember 2020 - 2:00PM
UK Regulatory
TIDMPRU
RNS Number : 4851H
Prudential PLC
03 December 2020
3 December 2020
Shriti Vadera to succeed Paul Manduca as Chair on 1 January
2021
Further to the announcement on 30 January 2020, the Board has
today confirmed that Shriti Vadera will succeed Paul Manduca as
Chair of Prudential's Board and as Chair of its Nomination &
Governance Committee with effect from 1 January 2021.
Paul Manduca will step down from the Board with effect from 31
December 2020, having served as a Non-Executive Director since 2010
and as Chairman since 2012.
Enquiries:
Media Investors/Analysts
+44 (0)20 3977 +44 (0)20 3977
Jonathan Oliver 9500 Patrick Bowes 9702
+44 (0)20 3977 +44 (0)20 3977
Tom Willetts 9760 William Elderkin 9215
Notes to Editors:
About Shriti Vinodkant Vadera
Shriti Vadera began her career in investment banking with SG
Warburg/UBS in 1984, where she focused on markets in Asia, Africa
and South America. She was a member of the UK Government's Council
of Economic Advisers from 1999 to 2007, advising on domestic and
international issues including the UK Government's response to the
Asian financial crisis. She was a Minister in the UK Government
from 2007 to 2009 in the Department for International Development,
Cabinet Office and Department for Business, Innovation and Skills,
working on issues such as the UK Government's response to the
global financial crisis and its Presidency of the G20. Shriti
Vadera was a Senior Adviser to the Korean Presidency of the G20
from 2009 to 2010. She also acted as an adviser to investors and
governments - including Temasek, the global investment company
headquartered in Singapore - on strategy and markets, the Eurozone
crisis, the banking sector and debt restructuring from 2010 to
2014. She was a Non-Executive Director of AstraZeneca plc from 2011
to 2018. Shriti Vadera was Chair of the European Financial Services
Chairmen's Advisory Committee from June 2016 to January 2019. She
was Chair of Santander UK Group Holdings plc from 2015 to October
2020. She also served on the Board of BHP as a Non-Executive
Director from 2011 - and as Senior Independent Director from 2015 -
until October 2020. She was a Trustee of Oxfam from 2000 to 2005.
She holds a degree in Philosophy, Politics and Economics from the
University of Oxford. Age 58.
Shareholding
Shriti Vadera holds 67,500 ordinary shares of Prudential
plc.
Length of service
Non-Executive Directors are usually appointed for an initial
three-year term. They are typically expected to serve for two
three-year terms, although the Board may invite them to serve for
an additional period.
Remuneration
The Chair is not eligible to participate in annual bonus plans,
long-term incentive plans or pension arrangements. The Chair's fee
is determined by the Remuneration Committee.
Shriti Vadera's annual fee at appointment as Chair of the Board
will consist of a basic fee of GBP765,000.
Regulatory disclosures
Save as disclosed above, there is no further information
required to be disclosed pursuant to Listing Rule 9.6.13 (1) - (6)
of the Listing Rules of the Financial Conduct Authority and Rule
13.51(2) of the Rules Governing the Listing of Securities on the
Stock Exchange of Hong Kong Limited.
About Prudential plc
Prudential plc is an Asia-led portfolio of businesses focused on
structural growth markets. The business helps people get the most
out of life through life and health insurance, and retirement and
asset management solutions. Prudential plc has 20 million customers
and is listed on stock exchanges in London, Hong Kong, Singapore
and New York. Prudential plc is not affiliated in any manner with
Prudential Financial, Inc. a company whose principal place of
business is in the United States of America, nor with The
Prudential Assurance Company Limited, a subsidiary of M&G plc,
a company incorporated in the United Kingdom.
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END
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