Prudential plc (LON:PRU) today announced that M&GPrudential has appointed Clare Thompson as a Non-Executive Director and Chair of the Audit Committee as part of its preparations to demerge from Prudential plc. She joins the Board with immediate effect following her approval by the Prudential Regulatory Authority and the Financial Conduct Authority. With Ms Thompson’s appointment, the composition of the Board is set for the demerger of M&GPrudential from Prudential plc.
Ms Thompson is an experienced non-executive director with a deep understanding of the insurance sector. With extensive financial services and audit experience, Ms Thompson spent 23 years as lead audit partner on major financial services groups at PricewaterhouseCoopers LLP, predominantly in the insurance and investment sectors. She is a Non-Executive director of Bupa and Direct Line Group plc.
Mike Evans, Chair of M&GPrudential, said: “I am delighted that Clare is joining the Board. She has a wealth of experience from a distinguished career in global financial services and as a Non-Executive Director. Her appointment enhances the new Board of M&GPrudential as we prepare for demerger and our future as a stand-alone, publicly listed company.”
At the point of demerger, the M&GPrudential Board will consist of:
Mike Evans, Chair
John Foley, Chief Executive
Clare Bousfield, Chief Financial Officer
Caroline Silver, Senior Independent Non-Executive Director
Clive Adamson, Non-Executive Director and Chair of the Risk Committee
Robin Lawther, Non-Executive Director and Chair of the Remuneration Committee
Clare Thompson, Non-Executive Director and Chair of the Audit Committee
In March 2018, Prudential plc announced its intention to demerge M&GPrudential, the international savings and investments business formed by the merger of asset manager M&G and Prudential’s UK and Europe insurance operations.