mark-tucker-in-prudential

For half his life, Mark Tucker did nothing but work for Prudential. He’s been there ever since he quit his first love, football, not his wife, and for the most part, has done astounding work and has played a huge part in the success of the company. So it is just right that people questioned his stepping down as Chief Executive officer. It is not the fact that he is leaving but rather the timing that is most questionable. At a time when strong leadership and stability is needed, Prudential gets a makeover with a new CEO, the Chief Financial Officer Tidjane Thiam.

Not that Thiam is a bad person. He is not. He is very much qualified for the job himself and would probably be the next person to take the helm anyway if Tucker left at a later, better time. But the problem is Tucker. He left without a future, at least a definite one to face. He says that he wants to take a break but men like Tucker do not take breaks. They love what they do and they are good at it. He has no new job to speak off and is just basically heading outside the office and into nowhere.

A few days ago The Pru decided to dropout of the AIG sweepstakes. According to sources, this was not a very popular decision by Tucker. The new chairman, Harvey McGrath, is said to be against it. Tucker said that it’s not that they are dropping out completely but rather they are dropping out only because they do not agree with the $17 Billon price tag on AIG’s fledgling assets. He said if it was $10 Billion they would be in it. For some observers, such a statement is just a washing of hands. In a way, they price themselves out of the lottery. It is like saying to a seller that Yes, we are interested in your Aston Martin but we will only consider buying it if you cut the price in half.

Whatever his reason is, and he hasn’t given any real ones, let’s just hope that Tucker is happy. Maybe he can get a job with the Tottenham Hotspurs.

Share and Enjoy:
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
Share This Post
This entry was posted on Tuesday, April 7th, 2009 at 7:52 am.
Categories: Business.

No Comments, Comment or Ping

Reply to “Mark Tucker: Victim of a Powerplay?”