IAG will conduct “an internal and external search” for a new CFO after announcing that Michelle McPherson will retire from the position by the end of this year. 
 
“Michelle has played an important role in helping drive the business to achieve its strategic goals during a challenging time for the industry and economy,” CEO Nick Hawkins said. “I would like to thank Michelle for her contribution and wish her all the best in her retirement later this year.” 
 
Ms McPherson became Acting Group CFO in April 2020 and was appointed permanently to the role in November that year. Previously, she was CFO and Deputy CEO for Nib Holdings. 
 
IAG also announced last week that Chief Insurance and Strategy Officer Tim Plant, who heads up the Strategy, Innovation and Underwriting division, will leave at the end of next month. 
 
The company is consolidating group functions to better support operating divisions Direct Insurance Australia, Intermediated Insurance Australia, and New Zealand. Strategy and Innovation will sit within the finance function and underwriting will be transferred to risk. 
 
“We want to accelerate the delivery of our plans and ensure our three operating business can continue to meet customer needs in this rapidly changing environment,” Mr Hawkins said. 
 
“Tim has established greater discipline and alignment on how we execute our strategic priorities and helped to strengthen our underwriting governance during his time at IAG. I thank him for his contribution.”  
 
Mr Plant, who has three decades insurance experience, joined IAG in his newly created role in 2021 after previously heading up Zurich’s local general insurance operations.