Tower Insurance on Thursday announced that Chief Financial Officer (CFO) Paul Johnston will take over as interim Chief Executive Officer (CEO), effective from 13 February 2025.
The move follows the resignation Blair Turnbull, the current CEO of the New Zealand insurer, who is set to step down from his role on 12 Feb.
Johnston joined Tower in 2022 and prior has served at businesses including Chubb, AIG, Nomura, and Deloitte.
In a stock exchange announcement, Tower noted that Johnston has “considerable international experience” across insurance and financial businesses, as well as an extensive background in strategy and operational leadership. “This expertise equips him to effectively guide the organisation during this transitional period,” the insurer added.
The Board’s recruitment process for a permanent CEO is ongoing, with an updated to be provided when an appointment is made, Tower said.
Pending regulatory approval, Current Deputy CFO Angus Shelton will also assume the role of interim CFO, the New Zealand insurer added.
