Want to work in Australia? Want to be a Chief Financial Officer? Have we got a job for you.
With QBE group chief financial officer Neil Drabsch set to retire in February 2015 and his successor deciding to work part-time from January, the worldwide insurer headquartered in Australia is embarking on a global search for a new Chief Financial Officer.
Drabsch had signalled his desire to retire in February 2014 and his successor was to be Steven Burns but, after 27 years as an insurance executive and almost 15 years as CEO of QBE’s business in Europe, Burns has decided to retire from full time executive duties for lifestyle and personal reasons, opting to go part-time instead.
With that, Drabsch has instead agreed to stay on at the company until February 2015 as a global search for his successor has begins.
QBE Insurance Group is a major insurer of the mining industry in Australia. One of the world's top 20 general insurance and reinsurance companies, QBE employs more than 17,000 people in 48 countries. (continued.)
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According to a statement made on the Australia Securities Exchange, Burns has already handed over his European operations leadership role to Richard Pryce this month. Burns will take a short sabbatical for the balance of 2013 and rejoin QBE in January 2014 on a part-time basis in Sydney. He will serve as a non-executive director on QBE’s divisional boards in Australia, Asia Pacific and for the Global Shared Services Centre, and will provide project-based support for the group CEO John Neal.
“It has been my privilege to know and work with Steven Burns for the past 15 years," said Neal, "and I fully respect and understand his decision to want to retire from executive life and responsibilities.
“I am delighted that Neil Drabsch has agreed to extend his tenure as group chief financial officer for an additional year," he added. "Neil is one of the most experienced and respected chief financial officers in both the Australian and global insurance markets and I am looking forward to continuing to work with Neil.”
