While many people may have been shocked at the surprise departure of Aviva boss Mark Wilson, investors were not - especially because the insurance group's share price has been stuck between £4 and £5 for some time.
Simon French, chief economist at Panmure Gordon, says: "Investors are looking at Aviva and going 'well, where is the growth opportunity - this is a very UK-centered business. Where are the growth opportunities in Asia?' It has tried in the US and failed.
"I sit next to our insurance analyst at Panmure Gordon," says Mr French. "And he has long predicted Mark Wilson's departure.
"Not just because of the botched attempt to cancel the preference shares which brought Aviva some fairly negative headlines but also because that growth strategy hasn't been obvious to investors and pushed up their valuation."