IAG Chairman Elizabeth Bryan will retire at the 2021 Annual General Meeting (AGM) on 22 October after six years leading the organisation. She will be succeeded as Chairman by Tom Pockett, a Director of IAG since 2015 and Chairman of the Audit Committee. Pockett is also Chairman of Stockland Group and Autosports Group.
A second Director, Duncan Boyle, will also retire from the Board on the same day. Boyle has served on the Board for five years including three years as Chairman of the Risk Committee.
IAG said that as part of an “ongoing process of renewal”, three new Directors will join the Board. David Armstrong and George Sartorel will commence on 1 September, while Scott Pickering will join on 1 November.
Armstrong will become the new Chairman of the Audit Committee at the conclusion of the 2021 AGM. IAG said Armstrong is a “well-known and highly respected company director”, and a former partner with PwC specialising in financial services. Armstrong brings “deep knowledge” of audit and risk control, and experience with Australian public companies.
According to IAG, Sartorel has had a “long and distinguished career” with Allianz Group and was most recently Regional Chief Executive Asia Pacific. Sartorel brings experience in creating and leading large, innovative insurance companies with digital business models.
IAG said Pickering, who has recently retired from the role of CEO of the NZ Accident Compensation Corporation, has had a successful international career as a global insurance executive, holding senior leadership roles with Royal Sun Alliance and Willis Towers Watson.
“The IAG Board, under Mr Pockett’s chairmanship, will be a strong one that will combine a deep understanding of IAG and its Australian and New Zealand business with its new members’ deep insight into the developments taking place in the international general insurance market,” Bryan said.
The appointments are subject to regulatory approvals.