Suncorp chair Christine McLoughlin to retire, Duncan West picked as successor
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The news: Suncorp's chairman Christine McLoughlin will retire in September after a decade on the insurer's board.
Current non-executive director Duncan West has been elected as her successor, and will assume the position following the conclusion of the company's annual general meeting on 25 September.
The numbers: McLoughlin has served on the Suncorp board for 10 years, including seven years as chairman.
West has been on the board for almost four years and is also chairman of listed investment manager Challenger. He previously served as CEO of both Vero Insurance and CGU Insurance, and executive general manager of insurance for NAB's wealth division and former wealth management business MLC.
The context: Suncorp credited McLoughlin with helping to finalise the sale of Suncorp Bank to ANZ last year, and overseeing a period where the company simplified its business to become a pure-play general insurer.
What they said: "I am proud of the value that has been delivered to our shareholders, through a period when we have faced significant challenges, including the COVID-19 pandemic, supply chain disruptions, and unprecedented weather events, and a very complex process to sell Suncorp Bank, whilst also delivering meaningful outcomes for our customers," said McLoughlin.
The source: ASX
