REG - Prudential PLC - Board changes

PrudentialAnnouncement

01/07/2025 11:45

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RNS Number : 2337P  Prudential PLC  01 July 2025

Prudential plc Board changes

 

Prudential plc ("Prudential", the "Company") announces the following changes
to its Board of Directors:

Appointment of Dr Guido Fürer as a Non-executive Director

Dr Guido Fürer has been appointed to the Board with immediate effect. He will
also be a member of the Audit and Risk Committees.

Dr Fürer has extensive international experience of the insurance and asset
management industries. His 25-year career at Swiss Re Group included 11 years
as Group Chief Investment Officer and member of the Global Executive
Committee, heading up the Global Asset Management division, as well as a term
as Country President, Switzerland, and Chair of the Group Strategic Council.
Prior to joining Swiss Re, Dr Fürer held leading positions at Swiss Bank Corp
/O'Connor and Associates in options trading and capital markets.

Between 2018 and 2022 Dr Fürer was a non-executive director, and chaired the
Group Risk Committee, of FWD Group, gaining insight into various of
Prudential's key markets. He is currently a non-executive director of Baloise
Group and chair of its Risk & Investment Committee.

Retirement of Amy Yip

Following the completion of six years in office, Amy Yip will retire from the
Board with effect from 31 October 2025. Ms Yip joined the Board in September
2019. She has been a member of the Audit Committee since March 2021 and prior
to that was a member of the Remuneration Committee.

Shriti Vadera, Chair of Prudential, said: "Guido brings a wealth of knowledge
and expertise, including in respect of asset management, insurance and
asset-liability management, from both a distinguished executive career and
from his global board experience. I am delighted to welcome him on to the
Board".

"At the same time, we will be sorry to lose Amy later in the year after six
years on the Board. On behalf of the Board, I would like to take the
opportunity to thank Amy for her valuable contribution in helping the Board to
guide and oversee the Group through a period of significant change."

Contact

 Media                          Investors/analysts
 Simon Kutner  +44 7581 023260  Patrick Bowes     +852 2918 5468
 Sonia Tsang   +852 5580 7525   William Elderkin  +44 20 3977 9215
                                Ming Hau          +44 20 3977 9293
                                Bosco Cheung      +852 2918 5499
                                Tianjiao Yu       +852 2918 5487

 

Notes to Editors

About Guido Fürer

Dr Fürer has over three decades of international experience across financial
services. He began his career with Swiss Bank Corporation/O'Connor &
Associates in options trading and in its Capital Markets division in Chicago,
New York, London and Zurich. In 1997 he joined Swiss Re, where he held various
positions before being appointed Group Chief Investment Officer and member of
the Group Executive Committee in 2012, heading up Group Asset Management until
his retirement in March 2023.

Between 2019 and 2023, Dr Fürer served as Country President, Swiss Re
Switzerland, and held the roles of Chair of Swiss Re's Strategic Council,
Zurich Pension Fund, and Trustee of the Swiss Re Foundation.

During his time at Swiss Re Dr Fürer served on the boards of a number of
subsidiary entities and, from 2018 to 2022, as a non-executive director of
pan-Asian insurer FWD Group, where he chaired the Group Risk Committee. In
addition, he played a significant role in the establishment of the UN-enabled
Net-Zero Asset Owner Alliance.

Following his retirement, Dr Fürer became a member of the board of insurance
and banking group Baloise Holding AG in April 2024, becoming Chair of the Risk
& Investment Committee in April 2025.

Dr Fürer has a master's degree in Economics and a doctorate in Financial Risk
Management from the University of Zurich, where he is now Chair of the
Advisory Board of the Department of Finance.

Age

61

Shareholding

Dr Fürer does not hold any interest in shares of Prudential plc.

Length of service

Non-executive Directors are usually appointed for an initial three-year term.
They are typically expected to serve for two three-year terms, although the
Board may invite them to serve for an additional period.

Remuneration

Non-executive Directors are not eligible to participate in annual bonus plans,
long-term incentive plans or pension arrangements. Their fees are determined
by the Board and reflect their individual responsibilities, including
committee membership as appropriate.

On appointment, Dr Fürer will receive the standard annual Non-executive
Director fee of $125,000, in addition to which he will receive an additional
annual fee of $39,000 for his membership of the Audit Committee and an
additional annual fee of $39,000 for his membership of the Risk Committee.

Regulatory Disclosures

Dr Fürer is considered independent for the purposes of the UK Corporate
Governance Code and the Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited (Hong Kong Listing Rules).

Dr Fürer has confirmed (a)his independence as regards each of the factors
referred to in Hong Kong Listing Rule 3.13; (b) he does not have any past or
present financial or other interest in the business of the Company or its
subsidiaries or any connection with any core connected person of the Company
(as defined by the Hong Kong Listing Rules); and (c) there are no other
factors that may affect his independence at the time of his appointment.

Dr Fürer has also joined the Board of Prudential Corporation Asia Limited, a
wholly owned subsidiary of Prudential, with immediate effect. Dr Fürer has
confirmed to the Company that all of the biographical and other relevant
information required by UK Listing Rules 6.4.8R - 6.4.10G and / or Hong Kong
Listing Rule 13.51(2) has been disclosed in full and that those details are
true, accurate and complete. The Company is not aware of any other matters in
relation to his appointment or otherwise that need to be brought to the
attention of Prudential's shareholders.

Ms Yip has confirmed to the Company that she has no disagreement with the
Board and that there are no matters that need to be brought to the attention
of Prudential's shareholders in respect of her resignation.

About Prudential plc

Prudential provides life and health insurance and asset management in 24
markets across Asia and Africa. Prudential's mission is to be the most trusted
partner and protector for this generation and generations to come, by
providing simple and accessible financial and health solutions. The business
has dual primary listings on the Stock Exchange of Hong Kong (2378) and the
London Stock Exchange (PRU). It also has a secondary listing on the Singapore
Stock Exchange (K6S) and a listing on the New York Stock Exchange (PUK) in the
form of American Depositary Receipts. It is a constituent of the Hang Seng
Composite Index and is also included for trading in the Shenzhen-Hong Kong
Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.

Prudential is not affiliated in any manner with Prudential Financial, Inc. a
company whose principal place of business is in the United States of America,
nor with The Prudential Assurance Company Limited, a subsidiary of M&G
plc, a company incorporated in the United Kingdom.

 

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