The CEO of QBE Insurance Group has stepped down following an investigation into his workplace communications and conduct.
Pat Regan will depart QBE after almost three years in the role following an external investigation into workplace communications that the company’s board decided “did not meet the standards set out in the group code of ethics and conduct”.
“We are committed to having a respectful and inclusive environment for everyone at QBE,” said group chairman Mike Wilkins.
“The board concluded that he had exercised poor judgement in this regard. While these are challenging circumstances the board recognises and thanks Mr Regan for his hard work and contribution to strengthening QBE. However, all employees must be held to the same standards.”
Mr Wilkins will assume the role of executive chairman, taking on day-to-day oversight of QBE, while the company looks for a new CEO. The board will also launch an externally supported culture review and create a new avenue for employees to raise concerns and receive support.
“We want our people to have the avenues they need to safely speak up, with the confidence that they will be heard and that all concerns raised will be treated consistently across our workforce,” Mr Wilkins said.
The global association of investment management professionals has announced the appointment of a new chairman and vice-chair of its board of...