The chief executive of Suncorp Group Ltd.’s Vero New Zealand general-insurance unit is set to move back to Australia to head the company’s Suncorp Life division on an interim basis following the planned departure of Geoff Summerhayes.
Mr. Summerhayes will step down as CEO of Suncorp Life on Sept. 30, although he will remain an advisor to the company until the end of the year. He has been in the position since joining Suncorp in May 2008.
Gary Dransfield will take over as interim CEO of the life division from October while Paul Smeaton, currently executive general manager of statutory claims at Suncorp’s commercial insurance business, is set to become CEO of Vero New Zealand from Sept. 14.
Source: Suncorp and ASX
