IAG has confirmed that chief financial officer (CFO) Michelle McPherson will retire from her role by the end of the 2023 calendar year.
McPherson joined IAG as acting group CFO in April 2020 and then took on the role of CFO in November 2020. She will continue her role as the CFO while the board conducts an internal and external search for a replacement.
Commenting on McPherson's departure, IAG managing director and chief executive officer (CEO) Nick Hawkins said: “Michelle has played an important role in helping drive the business to achieve its strategic goals during a challenging time for the industry and economy. I would like to thank Michelle for her contribution and wish her all the best in her retirement later this year.”
IAG chief insurance and strategy officer Tim Plant will depart from the company on June 30, 2023, as it consolidates its group functions to better support its three operating businesses – Direct Insurance Australia, Intermediated Insurance Australia, and New Zealand.
Plant leads IAG's Strategy, Innovation, and Underwriting division. Strategy and Innovation will sit within the Finance function, while Underwriting will be transfer to Risk.
Hawkins commented: “Our plans are clear. We want to accelerate the delivery of our plans and ensure our three operating business can continue to meet customer needs in this rapidly changing environment. Tim has established greater discipline and alignment on how we execute our strategic priorities and helped strengthen our underwriting governance during his time at IAG. I thank him for his contribution.”
The executive changes follow IAG's appointment of an industry veteran to lead its newly formed division.
