IOOF restructures exec team; CFO out

David Coulter
DAVID COULTER
Insignia Financial Ltd - Chief Financial Officer
DEPARTURE
INSIGNIA FINANCIAL LTD
Date: February 2020
Position: Chief Financial Officer

IOOF's chief financial officer, David Coulter, will leave the organisation in February of next year. He will be replaced by David Chalmers, current CFO of NZ telecom Spark.

In a comment about this and other recent appointments, CEO Renato Mota said: "The right leadership team and organizational structure are fundamental to our future growth strategy as we continue to stabilize and grow the business and rebuild trust with our stakeholders".

Mota recognised the contributions that Coulter has made to the business over the past 12 years: "[He has] made meaningful contributions to the development and growth of our business, particularly in relation to value-accretive acquisitions made during [his] time with IOOF."

Coulter joined IOOF in 2007 as head of management reporting and has been in the CFO role since 2009. Coulter is one of the directors targeted by APRA for legal action to disqualify him from being able to run a superannuation fund following findings from the Royal Commission.