RSA appoint Stephen Hester as CEO with immediate Effect
February 5, 2014 1:57 pm
RSA insurance announced late yesterday the appointment of their new CEO, the new man to front the company will be Stephen Hester, the former boss of RBS and the man credited with helping its turn around in fortunes after the credit crunch. RSA removed a number of senior staff and executives late last year after finding “financial and claims irregularities” at its Irish division. Hester will start the CEO role immediately, though the company stated this will have no effect on its current business review which will be presented with full year results at the end of February.
Commenting Stephen Hester said that RSA has “not lived up to our stakeholders’ expectations and performed to our true potential. I look forward to getting started immediately and working closely with the board on the business review to ensure that we are able to deliver strength and value to all of our stakeholders and re-emerge as an attractive solidly performing group,”
The move has had a positive impact on the shares this morning which have been gaining steadily.
RSA insurance announced late yesterday the appointment of their new CEO, the new man to front the company will be Stephen Hester, the former boss of RBS and the man credited with helping its turn around in fortunes after the credit crunch. RSA removed a number of senior staff and executives late last year after finding “financial and claims irregularities” at its Irish division. Hester will start the CEO role immediately, though the company stated this will have no effect on its current business review which will be presented with full year results at the end of February.
Commenting Stephen Hester said that RSA has “not lived up to our stakeholders’ expectations and performed to our true potential. I look forward to getting started immediately and working closely with the board on the business review to ensure that we are able to deliver strength and value to all of our stakeholders and re-emerge as an attractive solidly performing group,”
The move has had a positive impact on the shares this morning which have been gaining steadily.