Aviva Names Tom Stoddard CFO - Quick Facts

(RTTNews) - Insurer Aviva Plc. (AV.L, AV) Friday said Tom Stoddard would join the Board of Aviva and become Chief Financial Officer with effect from May 5. He will replace Pat Regan who, as announced on January 23, is leaving Aviva. Stoddard is currently Senior Managing Director, Head of Global Financial Institutions Advisory at investment and advisory firm Blackstone. Since the start of 2013, he has been a principal corporate adviser to Aviva during which time he has gathered an in-depth knowledge of the business. Over the last 20 years, he has held a variety of senior financial advisory positions, specializing in insurance and financial services. He has a strong track record and reputation for restructurings, capital advisory and financial strategy, Aviva noted. His appointment has been approved by the regulators.

Stoddard will receive a basic annual salary of 675,000 pounds. He will receive a standard Executive Director bonus opportunity of up to a maximum of 150 percent of basic salary annually.

Any bonus for 2014 will be pro-rated for service. The bonus has strong performance targets and Stoddard will be required to defer two thirds of any award made into Aviva stock for three years.