Interim chief for insurer

NZX-listed insurer Tower has announced that its current chief financial officer, Paul Johnston, will take over as interim chief executive officer on February 13.

The move follows the resignation of Blair Turnbull, who will step down as CEO the previous day after nearly five years in the role.

Johnston, pictured, above, joined Tower as CFO in January 2022. He has considerable international experience in insurance and financial services, and an extensive background in strategy and operational leadership.

He was previously at Chubb for more than five-and-a-half years, firstly in London as European financial controller and then as director and chief financial officer Far East for about a year in Tokyo.

His other past roles include working for AIG, Deloitte, National Australia Bank and Meridian Energy.

In a statement issued to the NZX, Tower says this expertise equips him to effectively guide the organisation during its transitional period.

Johnston adds he is looking forward to continuing to deliver for the company’s customers and communities. 

“I am excited to be leading Tower through this period, providing continuity and remaining focused on our strategy,” he posted on LinkedIn

Angus Shelton, Tower’s current deputy CFO, will step up to be interim CFO, subject to the satisfactory completion of regulatory requirements.

Shelton, pictured below, has held senior finance positions at Tower since 2017 and has substantial finance experience within the insurance and banking sectors.

The board notes its recruitment process for a permanent CEO is ongoing.