Amendment of Proposed Awards to Directors

RNS Number : 9100J

Aviva PLC

10 April 2015

 

10 April 2015

AVIVA PLC ("Aviva")

AMENDMENT OF PROPOSED AWARDS TO DIRECTORS

Aviva plc (Aviva) announces that Mark Wilson, Group Chief Executive Officer, and Tom Stoddard, Chief Financial Officer, have decided not to accept the proposed Long Term Incentive Plan (LTIP) award to be made in 2015, which is detailed in the Directors' Remuneration Report (DRR) for the year ended 31 December 2014.  The DRR states that it was proposed to make 2015 LTIP awards of 350% of basic salary to Mr Wilson and 250% of basic salary to Mr Stoddard which were within the Company's existing remuneration policy, approved by shareholders in 2014.

As a result of this decision the Board has proposed a revised award under the Aviva LTIP of 300% basic salary to Mr Wilson and 225% of basic salary to Mr Stoddard, which they have both accepted.

Full details of these awards will be published at the time they are made.

Patricia Cross, Chairman of Aviva's Remuneration Committee, said:

"Aviva has received significant shareholder support for its remuneration report, following Aviva's strong financial performance in 2014 and delivery against its strategic objectives. However the Board was disappointed to receive feedback this week from a shareholder voting agency which expressed concern over the proposed LTIP awards, despite the tangible progress made by the management team and the award being within the company's remuneration policy."

Media Enquiries:

Nigel Prideaux                                                                           [phone]

Andrew Reid                                                                              [phone]

Investor Enquiries:

Colin Simpson                                                                           [phone]

David Elliot                                                                                [phone]                 

General Enquiries:

Kirsty Cooper                                                                             [phone]

 

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