Chief Executive Officer Succession
Following the completion of a thorough selection process and in line with the Board’s long-term succession plan, David will be replaced by
David co-founded Admiral in 1991 and has been Group CEO since
Milena joined Admiral in 2007 and was most recently appointed Head of
Before joining Admiral, Milena worked as a consultant for
Annette Court, Admiral Group Chair, commented:
“It is hard to sum up the amazing contribution that David has made to the Group over the last 27 years. As one of the founders he has overseen the business grow from a standing start to become one of the UK’s largest motor insurers, employing over 10,000 people, serving seven million customers and with a market value today of over £6 billion.
“David isn’t going just yet and I don’t want to use up all my accolades until he actually steps down in 12 months’ time. David brings a unique combination of great brainpower, integrity, innovation, caring and humility. As an individual, his compassion for colleagues and customers alike encapsulates Admiral’s approach and ethos. Suffice to say, it continues to be a real pleasure to work with him.
“Having been through a comprehensive and robust succession process, the Board is confident that in Milena we have a natural successor and a leader for the next generation. We have a wealth of management talent at Admiral and bringing this through has always been a central pillar to Admiral’s management philosophy as the business evolves alongside its customers. Milena brings a deep appreciation of the special Admiral culture, entrepreneurial spirit, commercial track record and people development skills.”
“Few managers are lucky enough to be part of as fulfilling a corporate story as Admiral. Alongside my sense of good fortune and gratitude to those who made it possible, notably, Admiral’s founder Henry, and my many talented colleagues over the years, I feel a responsibility to do what’s best for the long-term future of Admiral. That’s why I am looking to pass on stewardship of Admiral to a very talented next generation of Admiral management led by
“I am particularly glad that, in Milena, I have a successor who has the intelligence, the values, the track record and the clarity of vision to take on the role of Group CEO, and ensure that Admiral will continue to “go like a freight train” in the years to come.”
“I am immensely proud and humbled to be given the opportunity to succeed David as CEO of a truly special company. During my 13 years with the Group I have worked closely with David, and previously Henry, and look forward to building on their legacy. Admiral has a unique culture with staff and customers at its core, which has underpinned its track-record of growth and success. The responsibility of ensuring this remains the case into the future is a challenge I am excited to take on.
“Thank you, David, for everything you’ve done for Admiral, and I look forward to continuing to work closely with you during the transition.”
Remuneration
David will continue to receive his current annual salary of £416,048 (increasing to £426,449 with effect from
Information on Milena’s remuneration as CEO-Designate and CEO will be provided in due course.
Board composition
Following Milena’s appointment to the Board, its membership will comprise:
Non-executive Chair:
Annette Court
Executive Directors:
Independent Non-Executive Directors:
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014.
For more information, please contact:
Marisja Kocznur +44 (0) 29 2060 2034
Investors & Analysts
FTI Consulting
Edward Berry +44 (0) 20 3727 1046
Tom Blackwell +44 (0) 20 3727 1051
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