BREAKING NEWS: Major insurer IAG loses another executive

BREAKING NEWS: Major insurer IAG loses another executive | Insurance Business

BREAKING NEWS: Major insurer IAG loses another executive
IAG has announced that chief strategy officer, Leona Murphy, has resigned from the business effective 31 December 2015.

Murphy’s decision to stand down follows that of CEO and managing director, Mike Wilkins, and chairman, Brian Schwartz, both of whom announced their retirement from the company over the previous weeks.

Having joined the business in 2007 as group executive, business services, Murphy has worked as chief strategy officer and chief transformation officer and played a role in the integration of the Wesfarmers businesses.

Murphy was also given an expanded role upon the creation of IAG Labs taking on the additional responsibility of enterprise operations and has more than twenty years’ experience in the insurance industry.

Wilkins thanked Murphy for her commitment to the company throughout her time with IAG as she helped place the insurer on the best path for future growth.

“Leona has been a key member of our team and was instrumental in IAG’s journey over the past eight years,” Wilkins said in a statement to the ASX.

“In particular, her leadership and commitment to creating a purpose-led organisation and to delivering on our transformation agenda have ensured that IAG is well-placed for the future.

“We wish Leona all the best as she pursues a non-executive director and broader portfolio career.”

Murphy’s resignation caps a tumultuous period for IAG as the company decided to end its pursuit of further business growth in China and will search for a new chairman to join the incoming CEO and managing director, Peter Harmer, to bolster the business.

Murphy was named one of Australia's 100 Women of Influence in 2015 for her work as co-chair of the United Nations Environment Programme’s Principles for Sustainable Insurance and will return to Queensland to focus on the next stage of her career, the statment continued.