28 Feb 2019

Directorate Change

Prudential plc (“Prudential”) announces changes to the composition of its Board.

As part of our progress towards the demerger of M&GPrudential, John Foley, Chief Executive of M&GPrudential, Nic Nicandrou, Chief Executive of Prudential Corporation Asia, and Michael Falcon, Chairman and Chief Executive Officer of the North American Business Unit, will step down as members of Prudential’s Board at the end of the Annual General Meeting (“AGM”) on 16 May 2019. They will remain in their executive roles and as members of the Group Executive Committee.

Lord Turner of Ecchinswell has decided to retire from the Board at the end of the AGM. He joined the Board as a Non-Executive Director and member of the Risk Committee in September 2015, and became a member of the Audit Committee in May 2017.

Paul Manduca, Chairman of Prudential, said: “We have reviewed the composition of the Board in the context of the demerger of M&GPrudential, towards which we continue to make good progress.

“John Foley will naturally stand down from the Board as part of M&GPrudential’s transition to an independent business. Given Prudential’s changed shape following the demerger, we have decided that the roles of Chief Executive of Prudential Corporation Asia and Chairman and Chief Executive Officer of the North American Business Unit will no longer be positions on the Board.

“I would like to take the opportunity to thank John Foley, Nic Nicandrou and Michael Falcon for their service to the Board. They will continue to lead their respective Business Units, work closely with the Board and remain members of the Group Executive Committee.

“In advance of his retirement in May 2019, I would also like to thank Lord Turner for his service. His experience has been of great value to the Board and the Risk and Audit committees.”

Enquiries:

Media   Investors/Analysts  
Jonathan Oliver +44 (0)20 7548 3537 Chantal Waight +44 (0)20 7548 3039
Tom Willetts +44 (0)20 7548 2776 Richard Gradidge +44 (0)20 7548 3860
William Elderkin +44 (0)20 3480 5590

Notes to Editors:

About Prudential’s Board
The following Directors will be proposed for election and re-election at the Company’s AGM on 16 May 2019:

Name Board role
Paul Manduca Chairman
Mike Wells Group Chief Executive
Mark FitzPatrick Chief Financial Officer
James Turner Group Chief Risk Officer
Philip Remnant Senior Independent Director
Sir Howard Davies Independent Non-Executive Director
David Law Independent Non-Executive Director
Kai Nargolwala Independent Non-Executive Director
Anthony Nightingale Independent Non-Executive Director
Alice Schroeder Independent Non-Executive Director
Tom Watjen Independent Non-Executive Director
Fields Wicker-Miurin Independent Non-Executive Director

The following Directors will step down as members of Prudential’s Board at the end of the AGM on 16 May 2019:

Michael Irving Falcon
John William Foley
Nicolaos Andreas Nicandrou
Jonathan Adair Lord Turner

Regulatory disclosures
The Company confirms that there is no further information required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited. There are no other matters that need to be brought to the attention of shareholders of Prudential.

About Prudential plc
Prudential plc and its affiliated companies constitute one of the world's leading financial services groups, serving over 26 million customers, with £664 billion of assets under management (as at 30 June 2018). Prudential plc is incorporated in England and Wales and is listed on the stock exchanges in London, Hong Kong, Singapore and New York. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

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Prudential plc is an international company incorporated in the United Kingdom, and its affiliated companies constitute one of the world’s leading financial services groups. It provides insurance and financial services directly and through its subsidiaries and affiliates throughout the world, and it has been in existence for over 170 years. Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America, or the Prudential Assurance Company, a subsidiary of M&G plc (a company incorporated in the United Kingdom).