Trevor Matthews, the man whose “golden hello” contributed to a shareholder revolt at Aviva last year, is leaving the insurer, it emerged today.
The company unveiled its first shake-up under new boss Mark Wilson, which will see the former Standard Life and Friends Provident executive head for the exit door in May.
Matthews, head of Aviva’s developed markets business, was handed a bonus of £45,000 for just one month of work in 2011 as part of a £4.25 million welcome package to join Aviva.
The award infuriated shareholders, especially since other directors such as Igal Mayer and Andrea Moneta were also handed extravagant pay packages. These led to 59% of shareholders revolting against the company’s pay at its AGM last May and the inevitable departure of former boss Andrew Moss days later.
Matthews will stay on as a consultant at Aviva “for a number of months”, although it is not known how much he will be paid.
Aviva’s latest reshuffle also sees David McMillan take over as head of its European business and Nick Amin become transformation director.
Wilson said: “These changes are about ensuring we have the right people in the right jobs and that we have the best possible leadership team so Aviva can achieve its undoubted potential.
“I would also like to thank Trevor Matthews for his considerable contribution to Aviva and wish him well for his future.”