Steadfast COO Nigel Fitzgerald will leave the business on July 1 to pursue a “personal business venture”, the listed insurance group announced today.

Former local AIG chief Mr Fitzgerald joined Steadfast two years ago and was seen by many as a natural successor to group CEO Robert Kelly.

“Nigel is committed to ensuring a smooth handover of his responsibilities and will remain in a senior advisory role until September 30,” Steadfast said in a note to the Australian Securities Exchange.

“He will maintain an ongoing close association with Steadfast Group, including board positions for a number of Steadfast subsidiaries.”

Mr Kelly says Mr Fitzgerald has made a “significant contribution” to the business’ recent success.

“I reconfirm my commitment to not retire before December 31 2026,” Mr Kelly said.

“It is my intention to continue until a successor has been appointed. Steadfast has a number of internal candidates that will be considered as my successor, and in due course the Steadfast board will commence the process to review internal and external candidates.”

Mr Kelly says he has restructured the executive team. Steadfast Group EGM of operations Noelene Palmer has been promoted to COO, effective from July 1.

CEO of Steadfast subsidiary QIB Group Tim Mathieson will become CEO of Australasian broking at Steadfast Group, effective from May 1.

For more details, see this afternoon’s newsletter.