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CEO Of British Insurer Aviva Resigns

May 8, 2012
Originally published on May 8, 2012 6:41 am
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DAVID GREENE, HOST:

NPR's business news starts with a shareholder revolt.

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GREENE: The British insurance company Aviva announced Tuesday that their CEO has resigned. This came after shareholders rejected Andrew Moss' $8 million pay package. The shareholders cited discrepancies between executive pay and corporate performance. Company shares have dropped by a third over the past year. Aviva is the fourth major British company in recent weeks to have executive pay rejected by shareholders. Transcript provided by NPR, Copyright NPR.