Less than a week after rejecting a bid by QBE, the chief executive of Insurance Australia Group, Michael Hawker, has resigned.
The company informed the Australian Securities Exchange of Hawker’s resignation this morning, announcing that he would be replaced by the company’s chief operating officer, Michael Wilkins.
Commenting on his departure, Hawker said he believed he had lost the confidence of a number of shareholders and that his position had become untenable.
IAG chairman James Strong said the group was conducting a review of every aspect of its operations and would be making an announcement to the market soon.
