Business Services Industry
Stock market deals another blow to CEO of UK-based Prudential.
Knight Ridder/Tribune Business News, October, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Oct. 20--The icy reception on the stock market for yesterday's rights issue is yet another blow for Jonathan Bloomer, Pru's chief executive.
A youthful looking 50, Bloomer sports an impressively full head of dark hair -- but the fall in the insurer's share price during his tenure, from more than 12 pounds to just over 4 pounds, is enough to turn shareholders grey.
The entire insurance sector has suffered in the bear market, but "Bloomer's bloomers" are becoming a City bugbear.
They include his failure to sell Internet bank Egg and his cut in the dividend earlier this year -- the first since the First World War. He was force to scrap a proposed pay package that could have...
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