New CEO for Lumley NZ
Wesfarmers Insurance has appointed Vero NZ Executive GM John Lyon as Lumley NZ’s new CEO.
He replaces Rieny Marck, who announced his retirement last month after the company returned disappointing results.
Mr Lyon will join Lumley late next month, taking over from Acting CEO Gary Thomas. He has more than 30 years’ experience in the industry, 17 of those with Vero in NZ.
In a note to staff announcing the resignation, Vero NZ CEO Roger Bell noted a “positive benefit” from the loss of Mr Lyon. He said he has a view “that I have publicly espoused for some time” that the NZ market would “tangibly benefit from at least two of our irresponsible competitors being run on more professional lines”.
“These companies’ bad practices, while damaging them hugely, cause collateral damage to every player in this market,” Mr Bell said. “Under John’s leadership I expect at least one competitor to present better strategies than simply unsustainable pricing which harms their shareholders, staff and, eventually, customers and brokers.”
He replaces Rieny Marck, who announced his retirement last month after the company returned disappointing results.
Mr Lyon will join Lumley late next month, taking over from Acting CEO Gary Thomas. He has more than 30 years’ experience in the industry, 17 of those with Vero in NZ.
In a note to staff announcing the resignation, Vero NZ CEO Roger Bell noted a “positive benefit” from the loss of Mr Lyon. He said he has a view “that I have publicly espoused for some time” that the NZ market would “tangibly benefit from at least two of our irresponsible competitors being run on more professional lines”.
“These companies’ bad practices, while damaging them hugely, cause collateral damage to every player in this market,” Mr Bell said. “Under John’s leadership I expect at least one competitor to present better strategies than simply unsustainable pricing which harms their shareholders, staff and, eventually, customers and brokers.”