Prudential CFO resigns after conduct ‘falls short of standards’

Prudential, the insurance giant, has announced the resignation of its chief financial officer, James Turner, following an investigation into a code of conduct violation related to a recent recruitment process. The investigation revealed that Turner had not met the company’s high standards. Turner, who had been in the role for just over a year, stepped down immediately and was replaced by Ben Bulmer, the current CFO of Prudential’s insurance and asset management business. The company emphasised that the incident had no impact on its financial performance, reporting, or broader operations. Prudential said: “The group sets itself high standards and Mr Turner fell short on this occasion.”An internal investigation was conducted, with the assistance of an external law firm, to uncover the recruitment issue. Turner, a former chief risk officer, will be available to the company for four months to ensure a smooth transition. Prudential expressed its gratitude for Turner’s 12 years of service and stated that there would be no additional payments beyond the terms of his contract. Certain past performance-related share bonus awards would lapse, and future payouts under long-term bonus schemes may be suspended.