Aviva has appointed Mark Wilson as its next chief executive.
Wilson will joined the board on 1 December and take over the top job on 1 January.
Wilson will receive a basic annual salary of £980,000. He will also receive an annual bonus opportunity for 2013, that will pay up to a maximum of 150% of salary, subject to strict performance conditions.
John McFarlane, chairman of Aviva, who has been acting in an executive capacity pending the appointment of a CEO, will become non-executive chairman on 1 January.
Wilson was previously chief executive and president of insurance company AIA Group.
McFarlane said: "His leadership credentials are incredibly strong. He has an outstanding track record of leading a major insurer, of transforming its performance and culture, of implementing a growth agenda and of producing significant shareholder value, all of which are essential for Aviva's success going forward.
"Mark has operated in both developed and emerging markets. At AIA, Mark faced similar challenges to Aviva today. He navigated the company through the global financial crisis, narrowed the focus of the company, sold non-core businesses, turned round non-performing segments, and reduced risks and costs. From that foundation he implemented a successful revenue growth strategy.
"His appointment follows a comprehensive global search process which produced a shortlist of exceptional internal and external candidates."
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