Suncorp Chairman Ziggy Switkowski will retire from the board after the annual general meeting on September 20, with Christine McLoughlin to take over the role.

Dr Switkowski joined the board in 2005 and has been chairman for almost seven years.

“I am confident Christine will work well with the board, the CEO and MD Michael Cameron and senior management team to take this company to the next level of performance,” he said.

Ms McLoughlin has worked in financial services for more than 20 years and joined the Suncorp board in February 2015.

She is currently Chairman of the Suncorp remuneration committee and a member of the risk committee.

“It continues to be a time of great change, and some stresses, for financial institutions, and I look forward to embracing both the opportunities and challenges this brings,” Ms McLoughlin said.

“As incoming Chairman, I will be continuing the conversation on how best to create long-term value for all our stakeholders.”

More details in our regular bulletin on Monday.