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Expert Corporate Governance Service (ECGS)
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Prudential PLC - EGM 15 October 2019

The proposed demerger seeks to separate the UK and Europe business from the rest of the group, while Prudential plc is going to focus on its market-leading businesses in Asia and the US. We agree with the company’s rational that Prudential Business and the M&G Business are distinct, with divergent market opportunities and strategies, offering different profiles of risk and reward. After the split, each entity will have more control over its business strategy and capital allocation. Despite the high cost of the spin-off, we consider that the approval of the proposed demerger is in the strategic interest of shareholders given the divergent character of the businesses and the accrued group size.

Also, Amy Yip joined the Board and its Remuneration committee in early September. This appointment improves the Board competence, independence, and gender diversity.

 

Underlying
Prudential PLC

Prudential is a parent holding company. Co., together with its subsidiaries, is an international financial services group with its principal operations in Asia, the U.S. and the U.K. In Asia, Co. has operations in Hong Kong, Indonesia, Malaysia, Singapore and other markets. In the U.S., Co.'s principal subsidiary is Jackson National Life Insurance Company. In the U.K., Co. operates through its subsidiaries, primarily The Prudential Assurance Company Limited and M&G Investment Management Limited. Co. provides a range of retail financial products and services and asset management services throughout these territories.

Provider
Proxinvest
Proxinvest

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Expert Corporate Governance Service (ECGS)

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