logo
Plus   Neg
Share
Email

AXA Simplifies Operating Model; Appoints Management Committee - Quick Facts

French insurer AXA Group (AXAHY.PK) Monday said it has initiated a simplification of its operating model, under which the company will be organized based on 5 geographies and a single, refocused Corporate Center. AXA expects the new operating model to be effective in the first quarter of 2018.

The geographies include France, Europe, the US, Asia, and International. With the move, the company aims to empower its entities to deliver on the transformation and operate as close as possible to their customers.

The company has appointed a management committee to steer this operating model to achieve the objectives of Ambition 2020. The committee include Gérald Harlin, Chief Financial Officer, who is appointed Deputy CEO, in addition to his current responsibilities; George Stansfield, General Secretary, who is also appointed Deputy CEO, Benoît Claveranne, who is appointed CEO International and New Markets; Mark Pearson, CEO of AXA US; and Jacques de Peretti, Chairman and CEO of AXA France.

Four new members join the Management Committee. They are Alban de Mailly Nesle, who remains Group Chief Risk Officer; Antimo Perretta, who is appointed CEO Europe; Astrid Stange, who is appointed Chief Operating Officer; and Gordon Watson, who will join the Management Committee on January 1st, 2018, in the role of CEO Asia.

The new Management Committee appointments are effective from December 1st. The Management Committee will report to CEO Thomas Buberl.

Gaëlle Olivier, CEO of AXA Global P&C, and Paul Evans, CEO of AXA Global Life, Savings & Health, will leave the company.

Buberl said, "I am convinced that local empowerment is instrumental to the long-term success of AXA, by making our transformation tangible on the ground, as close as possible to our clients. In order to achieve this, the simplification we are implementing is an absolute pre-requisite, but also the starting point of a large effort to make AXA simpler for all our stakeholders."

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
A former Southwest Airlines employee has filed a racial discrimination lawsuit against the airline, alleging that the carrier allowed its employees to create a "whites-only" breakroom. The lawsuit was filed in the United States District Court in Houston earlier this week by Jamel Parker, a former employee of Southwest Airlines. American Airlines Inc. has joined its major rivals in raising baggage fees as the airline industry grapples with higher fuel costs and rising operating expenses. The largest U.S. airline said Thursday it is raising the price of a first and second checked bag by $5 each. The price of a first checked bag is now $30, while it is $40 for a second checked bag. The takeover battle by Comcast Corp. nd Rupert Murdoch's 21st Century Fox Inc. for British broadcaster Sky plc will be settled through an auction. The UK Takeover Panel said Thursday that an auction procedure is expected to commence on the evening of Friday, September 21, 2018 and end on the evening of September 22, 2018. The winner of the auction will be announced on Saturday.
Follow RTT