Qualified advisers answering your
Financial Questions
call 0800 092 1245

Prudential chief executive under pressure

Tidjane Thiam is under growing pressure today as more and more institutional shareholders in Prudential join the call for management changes. The unrest among shareholders is related to the collapse of the USD35.5 billion bid for the Asian assets of AIG which the Prudential management committed to a few weeks ago. However, the bid collapsed earlier this month and the company has taken a £450 million hit in relation to costs and a termination penalty.

The National Association of Pension Funds, which speaks for around 12% of the overall London stock market, has arranged a meeting with the Prudential management on 22 June at which a "broad shakeup of the board" will be disclosed. It is unclear at this moment in time whether they will call for the head of the chief executive but there is growing unrest about the cost of the failed AIG acquisition and the way in which it was handled.

Despite the fact that both the chief executive and chairman received votes of confidence from fellow directors after Monday's AGM it would appear that the battle to retain their positions is only just beginning. The fallout from the failed acquisition could eventually take the heads of the chief executive and chairman of the Prudential.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details