Tower appoints interim CEO amid leadership transition

This follows the announcement of the resignation of the current CEO

Tower appoints interim CEO amid leadership transition

Insurance News

By Jonalyn Cueto

Tower Limited has announced that Paul Johnston, the current chief financial officer, will step into the role of interim chief executive officer on 13 February 2025. According to a news release, this appointment follows the resignation of Blair Turnbull, who will step down as CEO on 12 February after the annual shareholder meeting (ASM) on 11 February.

In addition, Tower has confirmed that deputy CFO Angus Shelton will assume the role of interim CFO, subject to regulatory approval. Shelton has been with Tower since 2017 and brings extensive experience in the insurance and banking sectors to his new position, the news release noted.

The company is commencing a recruitment process for a permanent CEO and will provide updates in due course.

Turnbull, who joined Tower in 2020, has led the company through significant transformation, focusing on digital innovation, cultural development, and profitable growth. Chairman Michael Stiassny acknowledged Turnbull’s contributions, noting that he leaves Tower well positioned for its next phase of growth.

“Blair’s energy and focus has been on building a better, sustainable Tower powered by digital technology and data,” Stiassny said. “He has championed a culture that is diverse, talent-led and synonymous with innovation, while improving Tower’s business performance and delivering profitable growth in FY24.”

Reflecting on his tenure, Turnbull highlighted the milestones achieved under his leadership, including Tower’s 150th anniversary in Fiji, the opening of a new operational centre in Suva, and the company’s entry into the NZX top 50.

“Our business is now sharply focused and streamlined in our chosen markets, and we continue to innovate with risk-based pricing and new offerings like parametric insurance,” Turnbull said. “I believe the platform is solid and as such it’s an ideal juncture to pass the baton. My current focus is on sustaining our positive business momentum and ensuring a smooth transition.”

After departing Tower, Turnbull plans to pursue personal interests, including competing in an ultra-running race around Mount Kilimanjaro and spending time with family and friends before exploring future career opportunities.

Do you have something to say about this story? Let us know in the comments below.

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!