Suncorp CEO steps down

Suncorp CEO steps down | Insurance Business

Suncorp CEO steps down

Suncorp CEO Michael Cameron has resigned this morning, effective immediately, after spending less than four years in the top job.

The insurer confirmed Cameron’s departure in an announcement to investors, saying that a change in leadership would provide an opportunity for improvement.

“On behalf of the board I would like to thank Michael for his leadership in accelerating our digital capability and in driving a customer-first culture,” said chairman Christine McLoughlin.

Cameron, who will remain as an advisor until Suncorp’s full year results in August, said he was proud of what had been achieved during his tenure.

“Suncorp now has the digital foundations in place to enable it to be nimble and to seize opportunities,” he said in a statement. “I believe the business has great potential and will continue to enjoy success.”

It’s understood Cameron’s resignation was a mutual decision between both him and the board with chief financial officer Steve Johnston set to serve as acting chief executive in the interim.

Johnston has with Suncorp for 13 years, serving across a variety of leadership roles during that time.

"I recognise the importance of this role, especially during this challenging time for the financial services industry,” he said. “I am truly passionate about what we do and confident in our future."