Lapthorne tipped to oust Pru's McGrath

8th Jul 2010 08:03

Sir Richard Lapthorne, the controversial chairman of Cable & Wireless, is being touted by leading shareholders as the man to take over from Harvey McGrath at Prudential.They think his no-nonsense approach will do the insurer some good following its clumsy handling of the failed $35.5bn takeover of AIG's Asian assets.City grandee Lapthorne has been talking with investors for the past three weeks and is expected to take the role if he gets enough support.It's thought the plotters are only waiting for Blackrock to get on board before ousting McGrath. If the plan works, Lapthorne is likely to launch a strategic review of the AIG fiasco, a decision that coul dalso seal the fate of chief executive Tidjane Thiam.One key shareholder has called Lapthorne a "troubleshooter" and reckons he "certainly push through a board overhaul".