Bob Mendelsohn today was terminated as CEO at Royal & Sun Alliance. "It is the board's view that the interests of the group will be best served by a change in the top management," the company said in a statement. Bob Gunn, COO, will be acting chief executive while a replacement is sought. Mr. Mendelsohn was unavailable for comment.
R&SA on Aug. 27 was fined L1.35 million ($2.1 million) by regulators for mismanagement at its pensions division, with 13,500 retail pension customers out as much as L32 million.