QBE stocks stable after new chair declared

QBE has announced that director Mike Wilkins AO will succeed William Marston Becker as chairman next month. 

Mr Wilkins, who will commence as chairman on March 1, joined the insurance company’s board as a non-executive director in November 2016.

The former chief executive of Promina and managing director of Tyndall on Thursday paid tribute to the outgoing Mr Becker, who is not standing for re-election and will retire from the board on April 30.

“The board has benefited greatly from his experience and wisdom and I am personally grateful for his friendship and support over our time working together,” Mr Wilkins told the ASX.

QBE’s share price was largely unaffected after the announcement, down just 2.5 cents, or 0.17 per cent, to $14.25 at 1417 AEDT on Thursday. 

AAP

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