RSA Insurance Group chairman Martin Scicluna is likely to leave in 2021 after eight years in the post, according to Sky News.
Sources of the news network cited Baroness Fairhead CBE – the UK’s Minister of State for Trade and Export Promotion from October 2017 to May 2019 – as among the contenders in the early-stage successor search.
It was reported that the FTSE 100 insurance group has already tapped headhunters to look for its next chair. No departure details were outlined, though, and RSA has neither confirmed nor denied the recruitment plan.
Scicluna, whose experience includes 34 years spent at Deloitte, has held the chairmanship at RSA since January 2013. Currently, he also chairs J Sainsbury Plc.
As for Baroness Fairhead, a Bain & Company alumnus, her credentials span previous positions such as Pearson Plc chief financial officer, Financial Times Group chair and chief executive, and BBC Trust chair.
Last year, she was quoted as telling The Times in an interview: “What I would love to do would be to aim for a chairmanship of a FTSE and possibly another non-executive directorship, possibly a company outside the UK.
“I was in various conversations before I took the role [as exports minister] and that is where I see my future, in the private sector.”