Flip-flop Clementi

3 May 2005 By Chris Hughes

It seems Pru’s chairman Clementi backed away from ousting his CEO, despite sounding out successors in February. He later fired him anyway. Bloomer had to go after making too many uturns. But Clementi looks like just as much of a flipflopper.

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Mark Tucker, the former finance director of HBOS, indicated to the bank's board in March that he would probably not be succeeding Jonathan Bloomer at Prudential, after having previously warned them that he was a candidate, according to a person familiar with the situation.

Tucker subsequently received a formal offer to join the UK insurer, which he accepted.

Sir David Clementi, Prudential's chairman, decided against replacing Bloomer after the company posted a strong set of annual results in March, reported the Sunday Times newspaper. He then changed his mind after shareholders made it clear they still wanted Bloomer to go.

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