TIDMPRU
RNS Number : 4948V
Prudential PLC
10 August 2022
10 August 2022
Prudential plc appoints Arijit Basu and Claudia
Suessmuth-Dyckerhoff
as Non-executive Directors
Prudential plc (Prudential) announces the appointment of Arijit
Basu and Claudia Suessmuth-Dyckerhoff as Non-executive Directors.
Mr Basu will join the Board with effect from 1 September 2022 and
will also join the Audit Committee and Responsibility &
Sustainability Working Group. Dr Suessmuth-Dyckerhoff's appointment
is subject to regulatory approval and the effective date of her
appointment and any committee memberships will be confirmed in due
course.
Mr Basu has extensive experience in the banking and insurance
industries in India. He was Managing Director and CEO of SBI Life
Insurance Company, one of India's leading life insurers, from 2014
until 2018 and took it public in 2017. He has held senior positions
at State Bank of India (SBI Bank) in a career spanning nearly 40
years. He is also a member of the Academic Advisory Council of the
College of Supervisors established by the Reserve Bank of India
(RBI) to advise the regulator on supervisory colleges.
Dr Suessmuth-Dyckerhoff has a deep and broad knowledge of the
healthcare services sector and health technology across China and
the broader Asia-Pacific region. She has spent much of her career
based in Shanghai and, more recently, in Hong Kong and has worked
with healthcare providers, governments, insurers, pharmaceuticals
and medical device companies.
Shriti Vadera, Chair of Prudential plc, said: " I am delighted
that we have been able to appoint two new Non-executive Directors
with the knowledge and experience of insurance, health and
technology in Asia that Claudia and Arijit bring."
Media Investors/Analysts
Simon Kutner +44 (0)7581 023 260 Patrick Bowes +44 (0)20 3977 9702
Ping Ping Tan +65 9845 8904 William Elderkin +44 (0)20 3977 9215
Notes to Editors
About Arijit Basu
Mr Basu has an in depth understanding of the life insurance
sector, having served as Managing Director and CEO of SBI Life
Insurance Company Ltd (a subsidiary of SBI Bank, which successfully
listed in 2017), from 2014 to 2018. He was also a consultant to the
Life Insurance Corporation of India in preparation for its IPO in
May 2022.
Mr Basu was appointed chairman of the Board of HDB Financial
Services Ltd in June 2021, a leading financial services firm and
subsidiary of HDFC Bank Ltd. He is a senior advisor to leading
firms, including Ares SSG, AZB & Partners and Deloitte Shared
Services India LLP. In January 2021 he was appointed by the RBI as
a member of its Academic Advisory Council. He is also a director of
Peerless Hospitex Hospital and Research Center Ltd.
Mr Basu retired as the Managing Director of SBI Bank in
September 2020 having joined the bank in 1983. He held a number of
senior positions at the bank, across Retail, Corporate and
International Banking, Business Process Re-Engineering, IT and Risk
Management.
Mr Basu holds an Honours degree in Economics and a Master's
degree in History from the University of Delhi.
Age 61
About Claudia Suessmuth-Dyckerhoff
Dr Suessmuth-Dyckerhoff joined the global consultancy firm
McKinsey & Partners in 1995 and worked in a number of senior
roles. She was responsible for helping to build the firm's
healthcare Services and Systems sector in Asia Pacific, working
with the Chinese Ministry of Health to help develop their views on
China's national healthcare systems. Much of the client work during
this period involved transformation through technology, digital and
data and her board experience in recent years has helped her
develop valuable insights around the implementation of this in
healthcare services. She has experience in China having been based
in Shanghai for nearly 15 years and in Hong Kong for a further two
years.
Dr Suessmuth-Dyckerhoff has a portfolio of non-executive
directorship roles, mostly in the healthcare and healthcare
technology sectors. She is currently a non-executive director of
the following listed companies: Ramsay Health Care Ltd, Clairant AG
and Hoffman-La Roche AG. She is also a non-executive director of
Huma Therapeutics Ltd, QuEST Global Services Private Ltd and an
advisor to aMoon Ventures Y.SH. Ltd.
Dr Suessmuth-Dyckerhoff holds a Ph.D in Business Administration
from the University of St. Gallen.
Age 55
Shareholding
Neither Mr Basu nor Dr Suessmuth-Dyckerhoff hold any interest in
shares of Prudential within the meaning of Part XV of the
Securities and Futures Ordinance (Chapter 571 of the Laws of Hong
Kong).
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
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.
The annual fee on appointment for both Mr Basu and Dr
Suessmuth-Dyckerhoff as Non-executive Directors will consist of a
basic fee of GBP102,000. Mr Basu will receive additional fees of
GBP30,000 for his membership of the Audit Committee and GBP22,000
for his membership of the Responsibility & Sustainability
Working Group.
Regulatory disclosures
Both Mr Basu and Dr Suessmuth-Dyckerhoff are considered
independent for the purposes of the UK Corporate Governance Code
and the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited (Hong Kong Listing Rules).
Both Mr Basu and Dr Suessmuth-Dyckerhoff will also join the
Board of Prudential Corporation Asia Limited (PCAL), a wholly-owned
subsidiary of Prudential. Mr Basu will join the Board of PCAL with
effect from 1 September 2022. Dr Suessmuth-Dyckerhoff's appointment
is subject to regulatory approval.
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 Hong Kong Listing Rules.
About Prudential plc
Prudential plc provides life and health insurance and asset
management in Asia and Africa. The business helps people get the
most out of life, by making healthcare affordable and accessible
and by promoting financial inclusion. Prudential protects people's
wealth, helps them grow their assets, and empowers them to save for
their goals. The business has more than 19 million life customers
and is listed on stock exchanges in London (PRU), Hong Kong (2378),
Singapore (K6S) and New York (PUK). Prudential 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.
https://www.prudentialplc.com/ .
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