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M&G searches for global CEO as veteran Foley announces retirement
M&G’s veteran chief executive John Foley, who oversaw the merger of the division with Prudential’s UK investment business and subsequent spin-off from its parent, is to retire.
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LONDON: M&G’s veteran chief executive John Foley, who oversaw the merger of the division with Prudential’s UK investment business and the subsequent spin-off from its parent, is to retire.
The company, which is the parent of M&G Investments Southern Africa, said Foley (pictured) would remain in place until a successor is identified by Edward Braham, the recently appointed chair of the board.
Foley joined Prudential in 2000 as deputy group treasurer and was appointed CEO in 2015, ahead of the most significant operational restructure of the business in its recent history.
Braham said: ‘John has led M&G through significant change and overseen a successful demerger while steering the group through the unprecedented events of the pandemic.’
Foley said: ‘It has been a privilege to serve Prudential and M&G for the past 22 years. I am exceptionally proud of what M&G has achieved since becoming an independent listed company three years ago.
‘We have delivered our demerger commitments despite extraordinary macro challenges, and are well placed to leverage M&G’s scale and expertise to build an international leader in savings and investments.’
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