Insurance

Tower CEO to step down

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New Zealand-based general insurer Tower (ASX:TWR) announced the resignation of its CEO, Blair Turnbull.
 
His last day with the insurer will be on Feb. 12, 2025, following the company's annual shareholder meeting scheduled for Feb. 11, 2025.
 
Turnbull's tenure at Tower began in 2020 and has seen significant progress for the company, both in New Zealand and its Pacific Island markets.
 
In commenting on Turnbull's departure, Tower Chair Michael Stiassny acknowledged the CEO's impact.
 
"Blair’s energy and focus has been on building a better, sustainable Tower powered by digital technology and data," said Stiassny, highlighting the innovative culture established under Turnbull's leadership.
 
"In my view, Tower is a really unique business, and I am very proud to have played a part in its long history," stated Turnbull, reflecting on milestones such as the company's 150-year anniversary in Fiji.
 
Turnbull plans to participate in an ultra-running race around Mt Kilimanjaro and spend time with family before deciding his next career move.
 
Tower's Board has begun the recruitment process for his successor, with further updates to be communicated in due course.
 
The company will provide additional information about its FY24 performance in its financial results announcement slated for Nov. 28.

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