Challenger appointed John Somerville and David Whittle as independent non-executive directors at both Challenger Limited and Challenger Life, effective from 17 June.
Somerville brings over three decades of executive experience across ASX-listed and private businesses in financial and professional services. Namely, he served at KPMG for more than 20 years where he oversaw the advisory business in Australia and Asia-Pacific. He also served as the CEO and managing director of law firm Slater and Gordon.
Meanwhile, Whittle holds over 25 years’ experience in brand, digital innovation and transformation. He currently serves on numerous boards and was previously an adviser to the board of Commonwealth Superannuation Corporation.
According to Challenger chair Duncan West, the two appointments reflect the firm’s focus on board renewal and maintaining a strong mix of experience and industry knowledge.
“I am delighted to welcome John and David, whose compelling global experience will complement the capability of our existing directors and further expand and strengthen the skill set across the board,” West commented.
“John’s broad expertise leading businesses, which includes designing and implementing governance and risk structures, will be an asset as we continue to grow our leading retirement and income franchise.
“David brings a strong focus on customer and digital innovation, which will be highly valuable as we progress our digital transformation and execute the next phase of our strategy to meet more customer needs across a broader range of channels.”
Challenger also confirmed independent non-executive director JoAnne Stephenson is set to retire on 30 June 2025. This followed an announcement at its 2022 annual general meeting stating her decision to retire this year.
Stephenson has served in the independent non-executive director position since 2012. She is also chair of the group people and remuneration committee and a member of the group risk, group audit, independent and related party, and nomination committees.
West thanked Stephenson for her service over the past decade on behalf of the board and Challenger’s shareholders.
“JoAnne has made a significant contribution to our business during her tenure. Her experience and dedication are deeply appreciated by the board and management team, and we wish her all the best for the future,” he remarked.
Commenting on her upcoming departure, Stephenson said: “It has been a privilege to serve on the Challenger board. The importance of financial security in retirement has never been more important and Challenger has an incredibly exciting future ahead.”
