Prudential PLC Directorate Change (8371K)
July 12 2017 - 5:12AM
UK Regulatory
TIDMPRU
RNS Number : 8371K
Prudential PLC
12 July 2017
12 July 2017
Prudential appoints new Non-Executive Director
Prudential plc ("Prudential") announces the appointment of
Thomas Watjen as non-executive director. Mr Watjen joined the Board
and became a member of the Remuneration Committee with effect from
11 July 2017.
Mr Watjen has extensive leadership experience in US and
international life insurance. He spent over 20 years at US-based
life insurer Unum Group and its predecessor Provident Companies
Inc., serving as President and Chief Executive Officer for 12 years
and as Non-Executive Chairman. Mr Watjen is currently non-executive
director of SunTrust Banks, Inc.
Paul Manduca, Chairman of Prudential, said: "I am delighted that
Tom Watjen is joining the Board. He has a distinguished career and
brings with him a deep expertise of US and international life
insurance."
Enquiries:
Media Investors/Analysts
+44 (0)20 +44 (0)20
Jonathan Oliver 7548 3537 Raghu Hariharan 7548 2871
+44 (0)20 +44 (0)20
Jonathan Miller 7548 2776 Richard Gradidge 7548 3860
+44 (0)20
William Elderkin 3480 5590
Notes to Editors:
About Thomas Watjen
Thomas Ros Watjen started his career at Aetna Life and Casualty
before joining Conning & Company, an investment and asset
management provider, where he became Partner in the capital markets
and venture capital division. Mr Watjen joined Morgan Stanley in
1987 as a Managing Director in its insurance practice and in 1994
he was appointed Executive Vice President and Chief Financial
Officer of Provident Companies Inc. A key architect of Provident's
merger with Unum in 1999, Mr Watjen was appointed President and
Chief Executive Officer of the renamed Unum Group in 2003, a role
he held for 12 years before becoming Non-Executive Chairman until
his retirement in May 2017. Mr Watjen is a non-executive director
of SunTrust Banks, Inc. He studied Economics at Virginia Military
Institute and received an MBA from Darden School of Business at the
University of Virginia. Age 62.
Shareholding
Mr Watjen holds no interest in any shares of Prudential under
the meaning of Part XV of the Hong Kong Securities and Futures
Ordinance.
Length of service
Non-executive directors are usually appointed for an initial
three-year term, commencing with their election by shareholders at
the first Annual General Meeting following their appointment. They
are typically expected to serve for two three-year terms from their
initial election by shareholders, although the Board may invite
them to serve for an additional period.
Remuneration
Non-executive directors are not eligible to participate in
annual bonus plans, long-term incentive plans or pension
arrangements. Their fees are determined by the Board and reflect
their individual responsibilities, including committee membership
as appropriate.
Mr Watjen's annual fee at appointment will consist of a basic
fee of GBP97,000 plus an additional fee of GBP27,500 for his
committee role.
Regulatory disclosures
Mr Watjen is considered to be independent from appointment for
the purposes of the UK Corporate Governance Code and under the Hong
Kong Listing Rules.
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 incorporated in England and Wales, and its
affiliated companies constitute one of the world's leading
financial services groups, serving around 24 million insurance
customers, and has GBP599 billion of assets under management (as at
31 December 2016). Prudential plc is listed on the 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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