C&W Chairman Lapthorne Eyes Post In Prudential - Report

8th Jul 2010 10:23

LONDON (Dow Jones)--Cable & Wireless Communications PLC (CWC.LN) Chairman Richard Lapthorne is keen to replace Harvey McGrath as chairman of U.K. insurer Prudential PLC (PRU.LN), U.K. newspaper The Times reports Thursday, citing key Pru shareholders. It says Lapthorne held discussions with some Prudential investors over the past three weeks and wants the job as chairman if he gets enough support. McGrath and Prudential Chief Executive Tidjane Thiam have been under pressure to leave the company after Prudential failed in its planned $35.5 billion bid to buy American International Group Inc.'s (AIG) Asian unit AIA Group Ltd. The report said five of Prudential's investors haven't given their unambiguous support for Lapthorne. However, it quotes one shareholder as saying: "Lapthorne is a troubleshooter. He has independence and credibility. He could certainly push through a board overhaul." Lapthorne wasn't immediately available for comment. Newspaper website: www.timesonline.co.uk -London Bureau, Dow Jones Newswires; +44 (0)20 7842 9320 (END) Dow Jones Newswires July 08, 2010 05:23 ET (09:23 GMT)