Suncorp Group Limited (ASX: SUN) has announced that Christine McLoughlin AM will retire from the Board at the conclusion of the Annual General Meeting on 25 September 2025. Suncorp is a financial services company that provides insurance, banking and wealth management products and services to customers in Australia and New Zealand. Current Non-Executive Director Duncan West has been elected by the Board to succeed McLoughlin as Chairman, assuming the position upon her retirement.
Ms McLoughlin has served on the Suncorp Board for 10 years, including seven as Chairman. During her tenure, Suncorp significantly simplified its business, transitioning to a pure-play general insurer. She oversaw the sale of Suncorp Bank, including the return of capital to shareholders, while ensuring the company was well-positioned for the future. Having fulfilled these commitments, she has decided to retire from the Board.
In a statement, Ms McLoughlin expressed her pride in the value delivered to shareholders amidst challenges such as the COVID-19 pandemic, supply chain disruptions, and unprecedented weather events. She also highlighted the complex process of selling Suncorp Bank and the focus on delivering meaningful outcomes for customers. She further added that during her tenure she prioritized ongoing renewal of the Board, with skills complementary to Suncorp’s strategic direction.
Mr. West has been a member of the Board for almost four years, serving as Chair of the Risk Committee and a member of the Audit Committee. He brings over 40 years of experience in the insurance and financial services sector to his new role. He stated that it is a privilege to have the opportunity to guide Suncorp as a dedicated general insurance company and continuing to deliver outcomes for shareholders, customers, and communities.
