IAG Managing Director and CEO Nick Hawkins has appointed a new CFO and announced changes to the company’s executive team and structure, as he took the reins at the general insurer on Monday.
Michelle McPherson has been confirmed into the role of Group CFO after acting in that capacity since joining IAG in April this year. “I’m pleased to officially appoint Michelle as CFO after six months acting in the role during an exceptionally challenging period. Michelle has more than 30 years’ finance experience across multiple industries and I look forward to her ongoing contribution,” said Hawkins.
Mr Hawkins also announced that the Australia Division will be split into Direct Insurance Australia and Intermediated Insurance Australia, effective immediately. As a result, IAG CEO Australia, Mark Milliner, will leave the company at the end of November. “Mark has enjoyed a long career in insurance and is highly respected in our industry. We have been peers on the executive team for the past four years and I’ve seen first-hand the significant contribution he’s made to our company. I want to personally thank Mark for his help and support and wish him every success for the future,” said Hawkins.
Mr Hawkins said the new operating model will provide greater clarity on roles and responsibilities and is more aligned to IAG’s brands and customer propositions.
“The changes announced today will set us up well for success as we continue to focus on delivering a simpler, stronger and more resilient IAG that meets the evolving needs of our customers and communities we serve,” he concluded.
While an internal and external search is underway, Amanda Whiting, currently IAG Executive General Manager, Consumer Distribution, will be acting Group Executive Direct Insurance Australia. Julie Batch will act as Group Executive Intermediated Insurance Australia, in addition to her current responsibilities leading IAG’s Strategy & Innovation division.