Insurer appoints new director

Insurer appoints new director | Insurance Business

Insurer appoints new director
Tower has appointed Warren Lee as an independent non-executive director of Tower Limited, effective 26 May 2015.

Chairman Michael Stiassny said the board was very pleased to welcome Lee as a director.

Lee is CEO of the Victorian Funds Management Corporation and was previously CEO, Australia and New Zealand for AXA Asia Pacific Holdings Ltd.

His career at AXA spanned 15 years in senior management positions within the company’s Australian and Asian businesses with roles including chief financial officer for AXA Australia and New Zealand and prior to that chief operating officer for AXA in Hong Kong.

“Warren’s extensive experience and long record of leadership in the international insurance industry will enhance the board’s existing strong capabilities,” Stiassny said.

“Tower’s vision is to deliver attractive shareholder returns by growing a general insurance business that is a leading light in the New Zealand and the Pacific. The board has a very clear focus and a mix of directors with the experience and skills that will support our efforts to create value for shareholders,” he said.

“Warren’s appointment is a significant step in the ongoing evolution of the board and his experience and counsel will be of great benefit to Tower.”

Lee, who is based in Melbourne, said he was very happy with the appointment.

“I am delighted to be joining the board of such an innovative and dynamic company with a wonderful history and look forward to playing a role in Tower’s success as a customer-focused general insurer.”

Lee holds a bachelor of commerce degree from the University of Melbourne and is a member of the Institute of Chartered Accountants in Australia.

In accordance with the company’s constitution, Lee will retire and offer himself for election at the annual meeting of shareholders to be held in February 2016.

The board members are now:

Michael Stiassny – independent, chairman
David Hancock – non-independent, CEO
Rebecca Dee-Bradbury – independent
Warren Lee – independent
Stephen Smith – independent
Graham Stuart - independent