Former Prudential chief 'may return'

7 June 2010

Prudential shareholders are pushing for former chief executive Mark Tucker to return to the company.

A meeting is set to take place today (June 7th 2010) between investors and the company's board to deal with the fallout from Prudential's aborted $35.5 billion bid for AIA.

Chairman Harvey McGrath and chief executive Tidjane Thiam are likely to come under fire for their part in the affair.

According to a report in the Financial Times, "at least" two of the top 15 shareholders at Prudential are calling for Mr Tucker to return to the firm.

"Mark Tucker was the real architect of the Pru's growing success in Asia, UK and US. If he could be encouraged to return for a period, Thiam could go immediately," one told the newspaper.

Last week, Mr McGrath stated that the board is "completely behind" the management team which attempted the takeover and no one has been asked to resign.

By Tony Aynsley

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