Norwich-based insurance giant Aviva has said that up to 800 jobs could go in the latest round of restructuring.
The head of the insurance giants Aviva, based in Norwich, has been forced to stand down following a shareholder revolt.
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Mark Wilson who has just been appointed the new Chief Executive of Aviva said he will continue a company revival plan.
Mr Wilson said he intended to execute the strategy with "rigour and focus".
– Mark Wilson
There is substantial work to do. I am looking forward to taking up this appointment and excited about the future prospects for Aviva.
In July, Aviva unveiled a major sell-off plan after a review of 58 divisions had identified 16 weak performers that would be sold.
And last month the Norwich-based insurance group, which employs 18,500 people in the UK, warned that up to 800 jobs could be lost under the restructuring plan.
Norwich-based insurance giant Aviva has ended its search for a new chief executive today by recruiting the former boss of Asian insurer AIA.
Mark Wilson, who will take up the post on January 1, admitted there was "substantial work to do" at the company.
The board appointed the New Zealander after Andrew Moss was ousted from the top job following a shareholder rebellion over pay in May.
Mark Wilson has just been named the new boss of Norwich-based Aviva.
The new chief executive's basic salary will be £980,000, but he could be in line for a further 150% bonus if he meets "strict" performance targets, Aviva said.
The insurance giant Aviva, based in Norwich, has warned of more challenging conditions ahead this year after profits dipped by ten per cent.
The group reported a net loss of £681m after tax which included a one-off write down on the value of its US business.
Aviva is pinning its hopes on restructuring to cut costs
The head of Norwich-based Aviva has left the insurance giant with immediate effect having previously turned down a pay rise to take his annual salary to more than £1 million pounds.
Norwich-based car insurer and pensions giant Aviva said 2011 profits were up 6% to £2.1 billion after it boosted its share of the UK market.
The group achieved record operating profits of £931 million in its UK life insurance division, with gains in its core markets of workplace savings, annuities and equity release products and protection.