Bupa announces that Stuart Fletcher is stepping down as CEO, with Evelyn Bourke, the Chief Financial Officer, becoming Acting CEO as of 4 April 2016.
Lord Leitch, Chairman, said: "Stuart has made a very significant contribution to Bupa and leaves the company stronger than ever, having brought the customer and our people even further to the fore, as well as extending Bupa’s global footprint.”
“Under Stuart’s leadership, growth has been good, particularly given challenging market conditions. However, current growth plans do not match our expectations, and so we have agreed that the time is right for him to step down.”
“Evelyn is well placed to take on the Acting CEO role, with a strong track record and extensive experience in financial services, risk and capital management, strategy, and mergers and acquisitions.”
Stuart Fletcher said: "It has been a privilege to have led Bupa’s transformation over the past four years and I am incredibly proud of our achievements. It is the 84,000 colleagues that make Bupa so special, and I express my heartfelt thanks to each of them for the difference they make every day for Bupa’s customers. I know that Bupa will go from strength to strength and I will work to fully support Evelyn during the transition period.”
Evelyn Bourke, Acting CEO said: "It’s an absolute honour to be appointed as the Acting CEO of Bupa. I very much look forward to building on our success for our customers, people and partners."
Notes to editor
- In due course the Board will conduct an internal and external search process.
- Evelyn Bourke became CFO of Bupa in September 2012. Evelyn joined from Friends Life where she was Chief Executive Officer of its Heritage division. Previously at Friends Provident, she was the Executive Director responsible for strategy, capital and risk and, before that, Chief Financial Officer. She also served as Finance Director of Standard Life UK.
- Stuart Fletcher was appointed CEO of Bupa in March 2012. Stuart joined Bupa from Diageo where he was President, Diageo International. Previously, he held financial roles at Procter & Gamble and United Glass.
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Bupa's purpose is helping people live longer, healthier, happier lives.
With no shareholders, our customers are our focus. We reinvest profits into providing more and better healthcare for the benefit of current and future customers.
Health insurance accounts for the major part of our business with 16.7m customers and contributes around 75% of revenue. We operate clinics, dental centres and hospitals in some markets, with around 15m customers. We care for around 22,300 residents in our UK, Australia, New Zealand and Spain aged care businesses.
We directly employ around 80,000 people, principally in the UK, Australia, Spain, Poland, Chile, New Zealand, Hong Kong, Turkey, the US, Brazil, the Middle East and Ireland. We also have associate businesses in Saudi Arabia and India.
For more information, visit www.bupa.com.