Royal Sun Alliance's Chief Executive, Bob Mendelsohn has left his post and received a sum in excess of £1m for the privilege. Mr Mendelsohn's departure came about following industry criticism about the poor financial results of Royal Sun Alliance.
The company has been plagued by poor financial results over the last year, not helped by downward moves by World stock markets. The final straw for Royal Sun Alliance came in the form of a £1.35m fine by the industry regulator, The Financial Services Authority in respect of their handling of the pensions review.
No replacement has yet been appointed but the Chief Operating Officer, Robert Gunn will take over in the meantime.
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