Tower Limited has announced the resignation of its chief executive officer, Blair Turnbull, who will leave the company after the Annual Shareholder Meeting (ASM) on Feb. 11, 2025, officially stepping down the following day.
Turnbull (pictured) has held the CEO role since 2020, during which time he directed the New Zealand and Pacific insurer through significant technological and operational transformations.
His retirement has been confirmed after the completion of Tower’s strategic review, resulting in a decision to maintain its current ownership structure while proceeding with a proposed capital return to shareholders.
Reflecting on Turnbull’s tenure, Tower board chair Michael Stiassny acknowledged his contributions, describing him as instrumental in the company’s shift toward becoming a top direct insurer in New Zealand and key Pacific markets.
“Blair’s energy and focus has been on building a better, sustainable Tower powered by digital technology and data. He has championed a culture that is diverse, talent-led, and synonymous with innovation, while improving Tower’s business performance and delivering profitable growth in FY24,” he said. “Blair leaves the business well positioned to enter its next growth phase. The board wishes him well in his future endeavours.”
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Turnbull, looking back on his time at the company, expressed gratitude for the experience and pride in Tower’s achievements, which include celebrating its 150-year presence in Fiji, opening a new operational centre in Suva, and entering the NZX Top 50 index. He added that Tower is now well-positioned to meet future goals.
“It’s been a truly exciting chapter for me and a rewarding time leading such a great team of people. Together, we have significantly transformed Tower’s customer experience by leveraging digitisation and realised marked operational efficiencies through our cloud-based platform,” he said.
He said that Tower’s operations are streamlined and that recent innovations, such as risk-based pricing and parametric insurance offerings, have prepared the company for sustainable growth.
Following his resignation, Turnbull plans to complete an ultra-running event around Mount Kilimanjaro and spend more time with family before considering his next career move.
The Tower board has announced that it will initiate a search for Turnbull’s successor, with updates expected in the coming months. The company will also share details of its FY24 financial performance on Nov. 28.
