Suncorp CEO steps down

Suncorp has announced the departure of CEO and managing director Michael Cameron after almost four years in the role and seven years on the Suncorp board.

Suncorp said that, during his tenure, Cameron led a "significant digital transformation of Suncorp, an enterprise-wide focus on the customer and navigated the business through a period of unprecedented regulatory change."

Chair Christine McLoughlin added that though Cameron had made a considerable contribution "now was the right time for change" and that his departure "will provide the opportunity for the Company to enhance its performance in a highly competitive and challenging external environment."

Group chief financial officer Steve Johnston has been appointed acting CEO while the search for a permanent replacement is underway.

Cameron, who will remain employed in an advisory capacity until 9 August 2019 following the release of Suncorp's full-year results, said that "Suncorp now has the digital foundations in place to enable it to be nimble and to seize opportunities" and that he believes the business "has great potential and will continue to enjoy success."