Aviva boss to become FirstGroup chairman

<p>John McFarlane is moving from Aviva to FirstGroup.</p>

The share price of FirstGroup rose today (December 6th) after the company revealed it has appointed a new chairman.

John McFarlane will be moving from Aviva to take up the position in the new year and joins the board of directors with immediate effect.

FirstGroup had been searching for a replacement for outgoing chairman Martin Gilbert for six months and investors responding strongly to the appointment of Mr McFarlane.

By 13:39 GMT this afternoon, the share price of the company was up by nearly five per cent.

John Sievwright, senior independent non-executive director at FirstGroup, said: "John is an outstanding leader with extensive international experience and a track record of leading strategic change and value creation that speaks for itself."

Mr Sievwright also paid tribute to Mr Gilbert on behalf of the board of directors.

The share price of Aviva was also up following the announcement, rising by 1.5 per cent by 13:46 GMT despite the departure of Mr McFarlane.

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