QBE Insurance Group (ASX:QBE) today announced that their Group Chief Executive Officer Pat Regan will be departing the organisation after almost three years in the role.
This follows the outcome of an external investigation concerning workplace communications that the Board concluded did not meet the standards set out in the Group Code of Ethics and Conduct.
QBE Group Chairman, Mike Wilkins said the Board of Directors completed an external investigation and have taken decisive action in relation to the outcomes.
Mr Wilkins will assume the role of Executive Chairman, taking on day-to-day oversight of QBE, while an extensive internal and external international search process is underway to appoint a new Group Chief Executive Officer.
Shares in QBE Insurance Group (ASX:QBE)are trading 5.37 per cent lower at $10.04.