Australian Unitygroup managing director and chief executive officer Mark Sibree has stepped down from the top post effective immediately after the group announced changes to its senior management structure.
Australian Unity chairman Alan Castleman says Sibree used a provision in his contract which allowed him to choose not to continue with the group.
“The position is he [Sibree] chose to not continue in the company in light of some of the changes the board wanted to make to senior management. There were no disputes with any people,” Castleman says.
The Australian Unity board has announced that it will appoint two new group general managers, with chief financial officer Tony Connon and general counsel Simon Grant appointed. Connon’s dual role will now include overseeing the general insurance and health fund businesses while Grant will oversee the financial services business.
Castleman says the two executive positions represent enhanced roles within the business, concentrating on the group’s separate businesses.
“We took the view that we wanted to strengthen the management, and reflect a better and greater focus on the businesses. The new positions are a sharing out of the top level responsibilities,” Castleman says.
Australian Unity deputy chairman Murray Campbell will now take on the group managing director role temporarily while the board searches for Sibree’s replacement.
Castleman says the board will address the matter of Sibree’s successor in its next meeting in June, but says there is no urgency to make an appointment.
“We don’t see it as a matter of urgency, Murray Campbell has been in the position previously,” he says.
Sibree remains as a director of Australian Unity, and will continue to represent the company on the board of Acorn capital and the Australian Health Insurance Association.
Sibree resigns from Australian Unity after eight and a half years. He was a part of the group’s formulation when the Australian Natives Association (ANA) merged with Manchester Unity. At the time, Sibree had spent two and half years with ANA, and had been managing director for about one and a half.
Sibree then took up joint managing director duties for the newly formed Australian Unity with former Manchester Unity managing director Murray Campbell. He eventually gained sole responsibilty after Campbell stepped down from the role after one year.
