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 October 2005
PRUDENTIAL PUBLIC LIMITED COMPANY
(Translation of registrant's name into English)
LAURENCE POUNTNEY HILL,
LONDON, EC4R 0HH, ENGLAND
(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-
Enclosures: 'Board Changes'
07.00 Monday 17th October 2005
Prudential plc announces the appointment of Nick Prettejohn to succeed Mark Wood
as Chief Executive of UK Insurance Operations
The Board of Prudential plc ("Prudential") announces the appointment of Nick
Prettejohn as Chief Executive of its UK Insurance Operations. Mark Wood will be
leaving the company at the end of January after more than four years in the job.
As is normal he will be leaving the Board with immediate effect.
Nick Prettejohn, aged 45, who has announced his resignation as Chief Executive
at Lloyd's of London, will join the Prudential Board on 1st January 2005.
Nick joined Lloyd's in 1995 and was appointed Chief Executive in 1999. While at
Lloyd's, Nick oversaw a programme of significant change to the strategy,
supervision, processes and accounting system of the market, as well as leading
Lloyd's response to the attacks of 9/11 and the Society's debut on the
international capital markets last year.
Prior to Lloyd's, Nick was a partner at management consultants Bain and Co and a
director at private equity company Apax Partners. He is a member of the
Financial Services Practitioner Panel.
Mark Tucker, Group Chief Executive of Prudential, said:
"Nick's background and experience mean that he is well suited to lead our UK
Insurance Operations to the next stage in their development. He is widely
respected in the industry and across the financial community. He has broad and
relevant experience of the financial services market and has a track record of
implementing strategic change successfully and will bring a fresh, external
perspective to the business. I look forward to working with him at this
exciting time for the UK and the Group.
"At the same time, I would like to extend the Board's thanks to Mark Wood for
his significant contribution over the last four years. Mark has overseen a
period of huge transformation for the UK business, where we have improved
efficiency, broadened our product range and forged strong relationships in
distribution. The business is in good health and we are delivering strong growth
for the benefit of our shareholders. We wish him well for the future."
Nick Prettejohn said:
"I am delighted to be joining Prudential at this exciting time in the Group's
development. There is huge potential for the business in the UK, and I look
forward to working with the Board and the management team to deliver strong,
profitable growth."
Mark Wood said:
"Leading Prudential's UK operations during such a dramatic period of change has
been an immense and rewarding challenge. I would like to thank the excellent
team that has worked with me over the past four, exciting years. I wish Nick
the best of luck as he takes over the reins as I prepare for new challenges."
Enquiries:
Media Investors / analysts
Jon Bunn 020 7548 3559 James Matthews 020 7548 3561
William Baldwin-Charles 020 7548 3719 Marina Novis 020 7548 3511
Joanne Davidson 020 7548 3708
Notes to Editors
Biography:
Nick Prettejohn, 45, joined the Corporation of Lloyd's in 1995 as Head of
Strategy. He played a key role in the Reconstruction and Renewal (R&R) process,
which reorganised Lloyd's after the losses of the late 1980s and early 1990s.
Following the successful completion of R&R in 1996, Nick became Managing
Director of Lloyd's Business Development Unit and in 1998 he also assumed
responsibility for Lloyd's North America business unit. He was appointed Chief
Executive of Lloyd's in July 1999.
Prior to joining Lloyd's, he was responsible for Corporate Strategy at National
Freight Corporation plc, a major international logistics company.
Nick began his business career in 1982 as a research associate with management
consultants Bain and Company, becoming a manager in 1986 and partner in 1988.
Between 1991 and 1994, he was a director of Apax Partners, a private equity
fund. In 2004 Nick became an Honorary Fellow of the Chartered Insurance
Institute.
Nick was educated at Taunton School, Somerset, and Balliol College, Oxford,
where he gained a first-class degree in philosophy, politics and economics. He
was president of the Oxford Union Society in 1980.
In November 2004 Nick was appointed a member of the Financial Services
Practitioner Panel and in 2005 he was appointed a member of the Board of
Trustees of the Royal Opera House.
Married in 1997 with two daughters, Nick's interests include opera (he is
Chairman of English Pocket Opera Company) and several sports, particularly golf
and horse racing.
*Prudential plc, a company incorporated and with its principal place of business
in the United Kingdom, and its affiliated companies constitute one of the
world's leading financial services groups. It provides insurance and financial
services directly and through its subsidiaries and affiliates throughout the
world. It has been in existence for over 150 years and has GBP187 billion in
assets under management, (as at 31 December 2004). 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.
Forward-Looking Statements
This statement may contain certain "forward-looking statements" with respect to
certain of Prudential's plans and its current goals and expectations relating to
its future financial condition, performance, results, strategy and objectives.
Statements containing the words "believes", "intends", "expects", "plans", "
seeks" and "anticipates", and words of similar meaning, are forward-looking. By
their nature, all forward-looking statements involve risk and uncertainty
because they relate to future events and circumstances which are beyond
Prudential's control including among other things, UK domestic and global
economic and business conditions, market related risks such as fluctuations in
interest rates and exchange rates, and the performance of financial markets
generally; the policies and actions of regulatory authorities, the impact of
competition, inflation, and deflation; experience in particular with regard to
mortality and morbidity trends, lapse rates and policy renewal rates; the
timing, impact and other uncertainties of future acquisitions or combinations
within relevant industries; and the impact of changes in capital, solvency or
accounting standards, and tax and other legislation and regulations in the
jurisdictions in which Prudential and its affiliates operate. This may for
example result in changes to assumptions used for determining results of
operations or re-estimations of reserves for future policy benefits. As a
result, Prudential's actual future financial condition, performance and results
may differ materially from the plans, goals, and expectations set forth in
Prudential's forward-looking statements. Prudential undertakes no obligation to
update the forward-looking statements contained in this statement or any other
forward-looking statements it may make.
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 17 October 2005
PRUDENTIAL PUBLIC LIMITED COMPANY
By: /s/ Jon Bunn
Director of Public Relations