Challenger managing director and chief executive, Richard Howes, will step down in March 2022 after 18 years with the company.
During his tenure, Howes had served as group CEO, chief executive of distribution, product and marketing, and chief executive of Challenger’s life business.
Challenger chair, Peter Polson, said: “As a result of Richard’s deep understanding of capital markets and their impact on our business model, he will leave Challenger with robust and sustainable capital settings. He, together with the team, have developed a clear and compelling strategy which creates the platform for our next phase of growth”.
Howes said he felt now was a good time to “step aside and being the process for a new leader to drive Challenger’s exciting next chapter”.
The board would conduct an internal and external search process to select a successor.
Executive Chris Plater had also been appointed to the role of deputy CEO from 16 August, 2021. Plater had been with Challenger for over 17 years and was chair of the Challenger Life Investment Committee and lead of the group’s operations and technology functions.