Integrity Life has announced that Chris Powell intends to retire after a 40-year career in financial services.
The insurer says in a statement that Powell will transition to a capital markets role to lead the current capital raising, with Integrity Chief Financial Officer Lesley Mamelok appointed acting CEO under Integrity’s CEO succession plan.
It says the board has started an executive search for Powell’s successor.
Chairman Eric Dodd wished Powell well in his forthcoming retirement on behalf of the board.
“Chris retires knowing that he has made an exceptional contribution to Integrity, having successfully driven the launch of one of Australia’s newest insurance companies.”
The statement notes that as founding CEO for five years and a significant shareholder, Powell was the driver of Integrity’s establishment.
He says: “Having spent the last five years fulfilling my entrepreneurial ambition to launch a disruptive, innovative new life insurer, I’m looking forward to a change of pace, but will continue to support Integrity in any way I can”.
Integrity launched to the retail adviser market in March 2019, following its successful roll-out to the group market in 2018.