Suncorp CEO steps down in surprise exit

Suncorp CEO steps down in surprise exit | Insurance Business Australia

Suncorp CEO steps down in surprise exit

Suncorp Group has today announced the surprise exit of its CEO of Banking and Wealth, Lee Hatton, who will leave the company at the end of May 2020.

Hatton accepted the role last December and she commenced in mid-February. But now, Hatton has revealed she has instead accepted a role with a Sydney-based fintech company, which has not been identified.

“I have re-assessed the demands of commuting from my home base in Sydney to Brisbane and the impacts this will have on my family, and have reached the conclusion that this will not be sustainable,” Hatton said in the statement.

“Suncorp is a wonderful company with many opportunities ahead of it. I am thankful to Steve and the leadership team for their support of my decision.”

Bruce Rush, Executive General Manager Deposits & Payments, will be Acting CEO of Banking and Wealth until a permanent appointment is made. Rush is said to be a long-standing Suncorp executive, with experience in various managerial roles since 2010.

Rush has been responsible for delivering Suncorp’s transaction and savings account offerings, including related customer payment capabilities and has also overseen significant growth in the portfolio.

Speaking of Hatton’s resignation, Suncorp CEO Steve Johnston said he is disappointed to see her depart the company.

“Lee is a highly capable executive and I am disappointed to see her depart after a short time with the Group. I respect her desire to spend more time closer to home and I wish her well.

“The bank has an experienced and capable executive team and I’m very confident that Bruce will provide strong leadership and direction while we seek a permanent appointment.”