Steadfast Group dips on COO exit, leadership restructure
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More news: Shares in Steadfast Group are down 2.4% to $5.79 after the insurance broker said chief operating officer Nigel Fitzgerald will step down on 1 July, prompting a restructure of its executive leadership team. As part of the restructure, the company names Noelene Palmer as the incoming COO and appointed Tim Mathieson as CEO of Australasia Broking. Managing director Robert Kelly also committed to not retiring before 31 December 2026.
Steadfast COO to step down, replacement named
The news: Steadfast Group chief operating officer Nigel Fitzgerald will step down from his role to pursue a personal business venture, prompting the insurance broker to name Noelene Palmer as his replacement.
The numbers: Fitzgerald will step down on 1 July after two years in the role. Steadfast managing director Robert Kelly said the executive leadership team would be restructured, and also committed to not retiring before 31 December 2026.
The context: As part of the restructure, Palmer, who is currently executive general manager of operations, was named as incoming COO. She has experience of almost 25 years in financial services including senior leadership roles in IAG, TAL, Swiss Re and KPMG.
Steadfast also named Tim Mathieson as CEO of Australasia broking from 1 May. He has been with the group for almost 10 years, including the last five as CEO of subsidiary QIB.
“It is my intention to continue until a successor has been appointed. Steadfast has a number of internal candidates that will be considered as my successor, and in due course the Steadfast board will commence the process to review internal and external candidates,” Kelly said in a statement.
The source: ASX
