Speculation is rising that IAG Chairman James Strong is preparing to depart the business.

The Australian Financial Review last week reported Mr Strong is considering leaving the board next year, in line with an earlier pledge to cut short his term after the departure of former CEO Mike Hawker.

Mr Strong told IAG shareholders the board would undertake a review before outlining its future plans by the time of the AGM in November.

An IAG spokesman said that in line with Mr Strong’s intention to step down at the end of his current term the board is “addressing the need for a planned and orderly succession in the role of Chairman, in accordance with proper governance principles”.