Prudential’s CFO leaves after ‘falling short of standards’ but insurer gives few details
Prudential Plc said on Wednesday its chief financial officer, James Turner, would leave the company after a code of conduct investigation into a recent recruitment showed he had fallen short of its standards.
Turner, who has been with the Asia-focused company for 12 years before resigning, will stay on for four months to support a transition to his replacement, Ben Bulmer, the insurer said.
“The group sets itself high standards and Mr Turner fell short on this occasion,” Prudential said in a statement, but did not detail the issue.
“We expect all our colleagues to adhere to the highest professional standards and behaviours,” Chief Executive Anil Wadhwani said, citing the code’s provisions.
Prudential said there were no implications for its financial performance, results or operation.
Anil Wadhwani, Chief Executive Officer said: “I am delighted to appoint Ben as Chief Financial Officer. Ben is a highly experienced finance leader who has developed a deep understanding of our business and markets during his 26 years at Prudential, including in his role as Chief Financial Officer at Prudential Hong Kong’s Life Insurance businesses and in central finance roles in the Group. The Board and I have a strong relationship with Ben and look forward to continuing to work closely with him in his new role as we seek to take advantage of the significant opportunities ahead.
“Our Code of Conduct sets out that we expect all our colleagues to adhere to the highest professional standards and behaviours. On behalf of the Board, I would like to extend our gratitude to James for his twelve years of contribution to the business and wish him well for the future.”
Reuters and staff