Key changes at Austock

Publicly-listed investment group, Austock has announced key board and management changes, including the departure of its chief executive, Bill Bessemer.

The company announced to the Australian Securities Exchange (ASX) this week that Bessemer would step down as CEO having facilitated a handover to executive chairman, Rob Coombe, who joined the board in July.

It said Bessemer was expected to continue serving on the board, but that Ross Higgins and Eric Barr would be resigning their board positions at the company’s annual general meeting today (Wednesday).

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The ASX announcement also said that Austock Life chairman, Martyn Pickersgill had resigned for health reasons but would continue as a non-executive director.

It said Pickersgill would be replaced by Chris Freeman.

The announcement said Ross Higgins had resigned as CEO of Austock Life and, while remaining on the board, would be replaced by co-CEOs, Catherine van der Veen and Lucy Foster.

It said van der Veen and Foser had resigned their positions as joint heads of Wealth Transformation at the Commonwealth Bank to take up the opportunity.

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