Axa Asia Pacific Holdings has promoted the current CEO of Axa Australia and NZ Andy Penn to the role of Group CEO, starting in October.

Group CEO Les Owen will step down on September 30 and will return to the UK after more than six years in the position.

Axa Asia Pacific Holdings Chairman Rick Allert says Mr Penn is an important member of the team that has transformed the company into a success over recent years.

“The board is very pleased that Andy has accepted the role and will be leading the company,” he said. “We are confident that his experience in Australia, New Zealand and Asia will drive further growth for our shareholders.”

Mr Allert says the board gave serious consideration to several internal candidates, and the decision was not an easy one.

Mr Penn’s previous roles include MD Group Strategic Development, Group CFO, COO Australia and New Zealand, and CEO International.