Summerhayes steps down at Suncorp

Suncorp Life chief executive, Geoff Summerhayes, will step down at the end of September and will be replaced by Vero New Zealand chief executive, Gary Dransfield, on an interim basis.

Suncorp announced the changes to the Australian Securities Exchange today saying that Paul Smeaton, the current executive general manager of Statutory Claims, Commercial Insurance, would be appointed chief executive of Vero, New Zealand.

The announcement said Summerhayes would stay with the business in an advisory position until 1 January, next year, during which time he will represent the company in relation to the Trowbridge Report and on the board of the Financial Services Council.

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