has announced that Elizabeth Bryan will become chairman of the IAG
Board following the retirement of Brian Schwartz.
Bryan will officially take over the role on March 31 and replaces Schwartz after his seven years as chairman and 11 years on the board of the business.
“I am honoured to have led IAG
and I am pleased to have someone of Elizabeth’s calibre succeed me as chairman,” Schwartz said in a statement.
“Her depth of experience in leading some of Australia’s most successful companies will be extremely valuable to IAG
and its management team.
“I know I am leaving the company in capable hands.”
Bryan joined the board of the insurer as a director in December 2014 and was made deputy chairman in 2015.
“Brian has contributed significantly to the IAG
that we see today, and to the iconic businesses which play a critical role in helping people and communities in times of need,” Bryan said.
“Brian’s tenure has been characterised by transformative transactions that include the acquisition of AMI in New Zealand, Wesfarmers insurance underwriting business, and the strategic relationship with Berkshire Hathaway
“I am proud to be chosen to fill his role and I look forward to working closely with my fellow directors and management to ensure the continued success of this great company.”
In addition to her IAG
role, Bryan is also chairman of Virgin Australia Limited, a director of Westpac Banking Corporation and president of YWCA NSW and also chairs IAG
’s people and remuneration committee and is a member of its risk committee and nomination committee.