The troubled Royal & SunAlliance group names new CEO

The U.K.-based Royal & SunAlliance Insurance Group plc has appointed Andy Haste as the new group CEO. Haste will take up his position from the beginning of April next year. Former CEO Bob Mendelsohn resigned earlier this year against a backdrop of poor company financial performance and plummeting stock values. Royal & SunAlliance recently announced an extensive global group restructuring program which it hopes will bounce the company back into profitability in 2003.
John Napier has been appointed new group chairman as from the beginning of March 2003. He will replace the current chairman, Patrick Gillam. Haste is currently the CEO of the U.K. Axa Sunlife, and an executive director of Axa U.K. Napier is the current chairman of the Kelda Group plc.