QBE split causes key manager to depart
QBE has announced a restructure of its Australian and Asia Pacific operations, which will see existing chief executive of the division, Vince McLenaghan, depart the company.
QBE has issued a statement that while its Australia and Asia Pacific businesses are currently managed as one division, the growth and opportunities in the region have given the company cause to split these into two separate divisions.
As a result, a new role of chief executive of Australian operations has been created, with existing executive general manager of intermediary distribution, Colin Fagen, stepping up to the role.
Michael Goodwin will continue in his role as chief executive of Asia Pacific operations.
Both Fagen and Goodwin have been with QBE for the past 12 years, and both will now report to John Neal, chief executive of global underwriting operations.
QBE group chief executive officer Frank O’Halloran said the changes to the management structure meant the role of Australia Asia Pacific chief executive was no longer necessary.
According to QBE, McLenaghan said he supported the changes and has decided to leave the company to pursue other interests.
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