Suncorp CEO steps down
The chief executive officer (CEO) of Australian insurer Suncorp is set to step down in October, after six years in the role.
Patrick Snowball will be succeeded by Michael Cameron, the current CEO and managing director of property group GPT. He has held the position of non-executive director of Suncorp since 2012.
Ziggy Switkowski, chairman of Suncorp, said: “Patrick Snowball has steered the Suncorp Group through a major transformation which has simplified operations, realised efficiency benefits and strengthened the capital base. Today, we are a vastly improved diverse financial services business with good prospects and are providing attractive and sustainable returns to our shareholders.
“As importantly, Patrick has successfully fostered a culture of innovation, employee engagement, accountability and process discipline which provides a solid foundation upon which Michael can build.”
Snowball added: “I remain focused on leading the team toward our full year result and look forward to working with Michael as he transitions into the Group CEO role. While on the board, Mr Cameron has endorsed Suncorp’s ‘One Company, Many Brands’ strategy that provides diversified financial services to the Group’s nine million customers across Australia and New Zealand. He brings a depth of relevant experience and this is the right appointment at the right time.”
On Cameron, Switkowski said: “His understanding of Suncorp and the financial services industry combined with his disciplined and long-term approach to business makes him the ideal person to lead the company through its next phase of growth.”
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