Tower NZ is undertaking a comprehensive executive search process for a new CFO and says it will provide a further market update in due course.

The recruitment exercise comes after Jeff Wright resigned from the CFO role. He will depart at the end of the year to return home to Australia.

Mr Wright has held the Auckland-based CFO role since September 2017 and also formerly acted as interim GM finance.

Tower Chair Michael Stiassny says Mr Wright was instrumental in Tower’s significant progress in shedding legacy issues and becoming a leading-technology general insurer.