Mr Powell will transition into a capital markets role to lead the company’s current capital raising for the meantime, with chief financial officer Lesley Mamelok to replace him as acting CEO.
Mr Powell had been founding CEO for five years, with Integrity crediting him for driving its establishment.
The Integrity board has commenced its hunt for his permanent successor.
Chairman Eric Dodd commented, “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.
“Integrity Life now has operational momentum, an established market presence, modern, adaptable technology and truly customer and adviser focused underwriting and claims processes.”
Mr Powell added, “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.”
His stepping down comes a year after Integrity launched to the retail adviser market, following its rollout to the group market in 2018.
Wow. Love to know the real story here. Retiring in your 50s from the company you founded?! Sounds interesting.
Hmmm.. yes interesting. And here we are 6 months on and still only an Acting CEO in place so no orderly succession plan it would appear. Looks like someone had to be moved on in a hurry. Shouldn’t Integrity have a bit more ‘integrity’ and tell the market what actually happened?
Hats off for setting up an excellent new option to advisers
So, he retired 9 months ago then?
Good luck for the future.