Ellie Comerford has stepped down as Genworth Mortgage Insurance Australia CEO and MD.

She has also resigned from the company’s board.

However, Ms Comerford has not completely severed ties with the company: she will remain in an advisory role until May 31 to “assist with transitional matters”.

Ms Comerford had led Genworth Australia – which listed last year – since 2010.

Her resignation took effect last Friday, when the company announced the “leadership transition” to Acting CEO Georgette Nicholas.

Ms Nicholas had been CFO since February last year. Director of Corporate Finance and Investor Relations Luke Oxenham has been named Acting CFO.

A global search has begun for Ms Comerford’s successor. No reason has been given for her “decision to resign”.