RACQ Group CEO resigns after 13 years at the helm

RACQ Group CEO resigns after 13 years at the helm | Insurance Business

RACQ Group CEO resigns after 13 years at the helm

RACQ Group’s long-standing CEO Ian Gillespie has resigned from his post, effective Dec. 31.

Gillespie, whose achievements include the reintegration of RACQ Insurance as a wholly owned subsidiary and the establishment of RACQ Bank and RACQ Foundation, will step down from his role after 13 years at the helm.

Bronwyn Morris, RACQ president and chair, thanked Gillespie for his significant contribution to RACQ and the global mobility sector.

“The continued transformation and success of RACQ would not have been possible without Ian’s leadership,” Morris said. “Ian’s strategic insight, focus on serving members, and his vision and passion for delivering on RACQ’s purpose have been a driving force behind the club’s achievements. Ian’s record speaks for itself. When he accepted the role in 2006, RACQ’s membership was 1.1 million, its revenue was $140 million, and its net assets were $480 million. Today our membership is approaching 1.8 million, revenues exceed $1.2 billion, and net assets are $1.4 billion. Total assets of the club now exceed $4.5 billion. Even more importantly member value generated has grown exponentially and is now more than $150 million annually. Ian has also taken a significant leadership role in the mutual enterprise sector in Australia and internationally, particularly his involvement with the Australian Automobile Association (AAA), the Business Council of Cooperatives and Mutuals (BCCM), The Federation Internationale de L’Automobile (FIA), and the Global Mobility Alliance (GMA).”

Gillespie said his decision to step back from full-time executive work was influenced by his recent battle with cancer.

“I know RACQ is in great shape and is well positioned for the exciting future ahead, so now is the right time for me to focus on other things,” Gillespie said.

Gillespie said he planned to continue his interest in non-executive board and governance roles, including his involvement with the RACQ Foundation and as chair of the Global Mobility Alliance.

“I look forward to continuing to work with the board and the group executive team through the transition period to ensure we continue to deliver on our strategy,” he said.

The board will commence a local and global search for a new RACQ Group CEO.