AXA extends Owen’s contract
AXA Asia Pacificannounced today that it had extended the contract of its chief executive, Les Owen, by two years.
The move will see Owen, who took on the top job at AXA in Australia in December 1999, contracted to the group until the end of 2004.
Announcing the extension today, AXA chairman Rick Allert said the group’s board was “pleased with the progress made over the past three years in repositioning and improving the performance of the company”.
In September, AXA reported a $136 million profit for the six months to June 2002, 23 per cent down on its previous six monthly report, handed down on March 2001.
At the time, AXA said its ambition was to lift its share of retail fund inflows, including through ipac Securities, the independent financial planning firm it bought for $205 million in July.
In separate news at AXA, the group announced last week that it would sell its 50 per cent stake in financial services group Members Equity to Industry Fund Services for $95 million.
AUTHOR
George Liondis
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