SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of January,
2020
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
1 Angel Court, London,
England, EC2R 7AG
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual
reports
under
cover Form 20-F or Form 40-F.
Form
20-F X
Form 40-F
Indicate
by check mark whether the registrant by furnishing the
information
contained
in this Form is also thereby furnishing the information to
the
Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes
No X
If
"Yes" is marked, indicate below the file number assigned to the
registrant
in connection with Rule 12g3-2(b): 82-
30 January 2020
Prudential plc appoints Shriti Vadera to succeed Paul Manduca as
Chair
Prudential plc ("Prudential") announces that Shriti Vadera will
join its Board as a Non-Executive Director and a member of its
Nomination & Governance Committee on 1 May 2020. She is
expected to succeed Paul Manduca as Chair of the Board and of its
Nomination & Governance Committee on 1 January
2021.
Mr Manduca joined Prudential's Board in 2010 and became
Chairman in 2012.
Shriti Vadera is currently Chair of Santander UK Group
Holdings plc and Senior Independent Director of international
mining company BHP Group plc. She has also served as a
Non-Executive Director at global pharmaceuticals group AstraZeneca
plc. In addition to her extensive boardroom experience, Shriti
Vadera has acted as a strategic adviser to investors
and governments.
She will step down from her roles at Santander UK Group
Holdings plc and BHP Group plc before becoming Chair of
Prudential.
Philip Remnant, Prudential's Senior Independent Director, who led
the appointment process for the new Chair, said: "I am
delighted that we have secured such a high-calibre individual.
Shriti Vadera was the unanimous choice of the Board following
a rigorous assessment of external and internal candidates from
around the world. She has senior boardroom experience at complex
organisations with extensive international operations, and strong
strategic and financial services experience."
Paul Manduca, Prudential's Chairman, said: "Shriti Vadera is an
excellent choice for the future Chair. I look forward to working
with her on the Board and during the transition to her becoming
Chair."
Shriti Vadera said: "It is an honour to be asked to join the Board
and to become Chair next year. Prudential combines the highest
standards of governance with a strong brand and a dynamic business
model. I look forward to working with colleagues and other
stakeholders as Prudential continues to focus on
fast-growing markets in Asia."
Mike Wells, Prudential's Group Chief Executive, said: "I am
delighted that Shriti Vadera will be joining the Board and will
become Chair next year. I look forward to working with her and the
rest of the Board as Prudential continues to develop and deliver on
our promises to our stakeholders."
Enquiries:
Media
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Investors/Analysts
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Jonathan Oliver
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+44 (0)20 3977 9500
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Patrick Bowes
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+44 (0)20 3977 9702
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Tom Willetts
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+44 (0)20 3977 9760
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William Elderkin
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+44 (0)20 3977 9215
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Notes to Editors:
About Shriti Vinodkant Vadera
Shriti Vadera began her career in investment banking with SG
Warburg/UBS in 1984, where she focused on markets in Asia, Africa
and South America. She was a member of the UK Government's Council
of Economic Advisers from 1999 to 2007, advising on domestic and
international issues including the UK Government's response to the
Asian financial crisis. She was a Minister in the UK Government
from 2007 to 2009 in the Department for International Development,
Cabinet Office and Department for Business, Innovation
and Skills, working on issues such as the UK Government's response
to the global financial crisis and its Presidency of the G20.
Shriti Vadera was a Senior Adviser to the Korean Presidency of the
G20 from 2009 to 2010. She also acted as an adviser to investors
and governments - including Temasek, the global investment company
headquartered in Singapore - on strategy and markets, the Eurozone
crisis, the banking sector and debt restructuring from 2010 to
2014. She was a Non-Executive Director of AstraZeneca plc from 2011
to 2018. She became a Non-Executive Director of BHP Group plc
in 2011 and was appointed Senior Independent Director in 2015.
Shriti Vadera was appointed Chair of Santander UK Group Holdings
plc in 2015 and was Chair of the European Financial Services
Chairmen's Advisory Committee from June 2016 to January 2019. She
was a Trustee of Oxfam from 2000 to 2005. She holds a degree in
Philosophy, Politics and Economics from the University of Oxford.
Age 57.
Shareholding
Shriti Vadera holds
no interest in any 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.
Shriti Vadera's annual fee at appointment as a Non-Executive
Director will consist of a basic fee of £99,000 and an
additional fee of £15,000 for membership of the Nomination
& Governance Committee.
Regulatory disclosures
The search process was conducted by the Nomination & Governance
Committee, led by the Senior Independent Director, Philip
Remnant.
Shriti Vadera is considered independent for the purposes of the UK
Corporate Governance Code and under the Hong Kong Listing
Rules.
Shriti Vadera will also join the Board of Prudential Corporation
Asia Limited, a wholly owned subsidiary of Prudential, on 1 May
2020. Following the change of Group-wide supervisor in October 2019
to the Hong Kong Insurance Authority, the composition of the Board
of Prudential Corporation Asia Limited mirrors the Prudential
Board.
Paul Manduca will step down as a Director of Prudential plc and
Prudential Corporation Asia Limited on 31 December
2020.
Save as disclosed above, there is no further information required
to be disclosed pursuant to Listing Rule 9.6.13 (1) - (6) of the
Listing Rules of the Financial Conduct Authority and Rule 13.51(2)
of the Rules Governing the Listing of Securities on the Stock
Exchange of Hong Kong Limited.
About Prudential plc
Prudential plc is an Asia-led portfolio of businesses focused on
structural growth markets. The business helps individuals to
de-risk their lives and deal with their biggest financial concerns
through life and health insurance, and retirement and asset
management solutions. Prudential plc has 20 million customers and
is listed on stock exchanges in London, Hong Kong, Singapore and
New York. Prudential plc 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, a subsidiary of M&G plc, a
company incorporated in the United Kingdom.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
Date: 30 January 2020
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PRUDENTIAL
PUBLIC LIMITED COMPANY
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By: /s/ Thomas S Clarkson
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Thomas
S Clarkson
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Company
Secretary
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