Prudential plc appoints new chair

Life and health insurer Prudential has appointed Shriti Vadera to its board as a non-executive director and a member of its Nomination & Governance Committee, effective from May 1, 2020. She is expected to succeed Paul Manduca as chair of the board and of its Nomination & Governance Committee on 1 January 1 2021.

Manduca joined Prudential’s Board in 2010 and became chairman in 2012.

Shriti Vadera is currently chair of Santander UK Group Holdings and senior independent director of international mining company BHP Group. She has also served as a non-executive director at global pharmaceuticals group AstraZeneca. In addition to her extensive boardroom experience, Vadera has acted as a strategic adviser to investors and governments.

She will step down from her roles at Santander UK Group Holdings and BHP Group 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, added: “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.”