Wednesday 5 June 2019 6:43 am

Aviva CFO to leave in latest leadership shake-up

Aviva’s CFO is set to depart in the latest of a series of sweeping changes under new boss Maurice Tulloch.

Tom Stoddard will quit his role as chief financial officer at the end of June, the UK insurer’s board of directors said.

Read more: Aviva share price falls as it warns of ‘muted’ 2019

He will be replaced on an interim basis by Jason Windsor, who is currently the CFO of Aviva’s UK arm.

“Tom is a tremendous leader and has played a major role in delivering Aviva’s financial turnaround, significantly strengthening the group’s capital position,” Tulloch said. “After five successful years at Aviva, he leaves with my best wishes and those of Aviva’s board.”

Stoddard added: “Whilst I will miss all the friends I have made here, Aviva has a strong finance team, and it is now time for me to clear the way for others to step up, as I consider new opportunities

“Aviva is in a strong financial position with a bright future ahead of it.  I have thoroughly enjoyed working with Maurice and I wish him, Jason, and everyone who works for Aviva all the best for the future.”

Windsor will take on the interim CFO role from 1 July. He has worked at Aviva since 2010 and his roles have included chief capital and investments officer and a group executive member.

Stoddard will remain with the company until the end of the year to ensure a smooth transition.

The CFO is the most recent in a wave of departures announced by Aviva since Tulloch took the top job in March.

He dumped Andy Briggs, the chief executive of Aviva’s UK insurance arm, in late April.

Instead he brought in 18-year Aviva veteran and former chief risk officer Angela Darlington to replace Briggs.

Tulloch also added more business unit leaders to the senior leadership team. Aviva Canada chief exec Colm Holmes and Aviva France chief Patriock Dixneuf both joined that group.

At the time Tulloch said the appointments were necessary to bring “greater energy, pace and commercial thinking” to Aviva.

Read more: New Aviva boss shakes up leadership team to boost ‘commercial thinking’

The chief executive took the reins promising to deliver more value to shareholders.

Aviva sacked former boss Mark Wilson as Aviva’s share price wallowed at 464p, down from 552p last May.