AXA Group announces today it has initiated a simplification of its operating model designed to empower its entities to deliver on the transformation and operate as close as possible to their customers.
Upon introduction of the new operating model, the AXA Group will be organized based on 5 geographies (France, Europe, the US, Asia, and International), and a single, refocused Corporate Center (reduced from the three layers - head office, global business lines, regions – that exist today).
Key transversal entities will be managed alongside these 5 geographies, including AXA Investment Managers, AXA’s core, fully-owned asset management unit, and AXA Corporate Solutions, AXA’s large insurance risks business. The CEOs of AXA Investment Managers and AXA Corporate Solutions will report to AXA’s Group CEO. As part of this simplification effort, in Europe, direct and traditional entities will report to the country CEO to accelerate the synergies between direct and traditional business.
This project has been presented to the Group’s employees on October 17, and consultations with social partners have been launched in the relevant entities. AXA expects the new operating model to be effective in the first quarter of 2018.
My objective is to let our teams focus their energy on growing our business and deliver excellent service in their respective markets. I am convinced that local empowerment is instrumental to the long-term success of AXA, by making our transformation tangible on the ground, as close as possible to our clients. In order to achieve this, the simplification we are implementing is an absolute pre-requisite, but also the starting point of a large effort to make AXA simpler for all our stakeholders.
To steer this operating model to achieve the objectives of Ambition 2020, a new Management Committee, reporting to Thomas Buberl, is appointed, with the following members:
4 new members join the Management Committee:
“As Deputy CEOs (“Directeurs généraux adjoints”), Gérald and George will support me in steering the strategy of the Group, and I look forward to continuing to benefit from their experience, professionalism and integrity. The new Management Committee is an excellent blend of the previous team together with new leaders from across the Group with strong operational experience and excellent knowledge of the insurance industry. It also confirms our ability to attract top talents: Gordon Watson has been instrumental in AIA’s growth trajectory over the recent years and I am convinced that he will lead our Asian businesses to many successes”, said Thomas Buberl.
The new Management Committee appointments are effective from December 1st.
Gaëlle Olivier, CEO of AXA Global P&C, and Paul Evans, CEO of AXA Global Life, Savings & Health, will leave the Group.
“I would like to thank sincerely Paul and Gaëlle for their insightful support to the design of our new operating model, and salute their many contributions to the performance of AXA.”
“Over the last 20 years, Gaëlle has built a remarkable international career across the Group, including ten years in Asia, where she significantly developed our P&C operations in the region. She then achieved strong results while in charge of our global P&C business. I respect her decision to leave AXA, and I am sure she will continue to be a very successful leader, bringing her unique engagement, sense of responsibility and care for others to her future endeavors.”
“Since he joined AXA in 2000, Paul has been instrumental to the successful repositioning of the Group’s operations in the UK, and more recently at the helm of our life, saving & health businesses. I know Paul will keep many friends here, who will be sad to see him go as he pursue new challenges outside of AXA, but who will join me in wishing him the very best for the future”, added Thomas Buberl.
Following the constitution of this new Management Committee, AXA also announced the following senior appointments:
Amélie Oudéa-Castera, Chief Marketing & Digital Officer, has decided to leave the Group.
“Amélie has been a relentless ambassador of our brand, a strong and inspiring leader in our digital transformation and a passionate advocate of the enhancement of our customer experience. I would like to very warmly thank her for everything she has achieved with her teams, and I wish her many successes in her future professional endeavors”, concluded Thomas Buberl.