Direct Line CEO and CFO Exit as Aviva Acquisition Finalizes
Deal News | Jun 23, 2025 | Business Cloud
Direct Line Insurance Group's CEO Adam Winslow and CFO Jane Poole are set to step down as Aviva's acquisition of the company concludes on July 1st. Winslow's pay has been under scrutiny after he received a significant compensation package upon joining, prompting discontent among shareholders. Both executives will serve a portion of their notice period on garden leave before exiting the company. Alongside their departures, ten non-executive directors also plan to resign. Post-acquisition, Aviva's UK and Ireland CEO Jason Storah and CFO Stephen Pond will assume leadership roles at Direct Line.
Sectors
- Insurance
- Corporate Governance
Geography
- United Kingdom – Both Direct Line and Aviva operate within the UK, and the article discusses a significant business transaction occurring in this region.
Industry
- Insurance – The article involves major changes in leadership as a result of a significant acquisition in the insurance industry.
- Corporate Governance – The article discusses changes in leadership and governance due to the acquisition of Direct Line by Aviva.
Financials
- 7.8 million – Compensation package received by Adam Winslow in the latest financial year.
- 5.8 million – Part of Adam Winslow's compensation to offset a loss of earnings when he joined Direct Line from Aviva.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Direct Line Insurance Group | Target Company | Company | An insurance company set to be acquired by Aviva. |
| Aviva | Bidding Company/Buyer | Company | The insurance giant acquiring Direct Line. |
| Adam Winslow | CEO of Direct Line | Person | CEO who is stepping down following the acquisition. |
| Jane Poole | CFO of Direct Line | Person | CFO who is stepping down following the acquisition. |
| Jason Storah | Incoming CEO of Direct Line | Person | Currently Aviva's UK and Ireland general insurance CEO, set to replace Winslow. |
| Stephen Pond | Incoming CFO of Direct Line | Person | Aviva's UK and Ireland general insurance CFO, set to replace Poole. |