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Aviva finance director Philip Scott heads for exit
18 Jun 2009Insurance giant Aviva is looking for a new finance director after announcing that company stalwart Philip Scott is leaving.
The 55-year-old has been with the group for 36 years, holding several senior positions.
He helped to shape the company flowing the flotation of what was Norwich Union in 1997, one of the first of the big demutualisations.
There was some speculation in the City that Scott was paying the price for a disastrous two days in March when the shares halved. Aviva had unveiled annual results that showed a loss in accounting terms of £885 million.
At the time there was deep concern about the solvency of insurers, and the decision to pay a dividend costing £500 million alarmed some investors.
The shares have since recovered, and were today down 7p at 321p.
Scott has a year's notice period and will leave once a successor is found.
