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Category:
Insurance
News /
Short Term
Insurance /
Santam
/ June 2007
Steffen Gilbert quits as Santam CEO
The Board of Santam Limited and Steffen Gilbert, the Chief Executive
of Santam Limited, today announced a decision made by mutual
agreement, whereby Steffen will step down as Santam CEO with effect
from 14 June 2007, thereafter serving a six-month notice period.
In
addition, the Santam Board has appointed Ian Kirk (49) to succeed
Steffen as Chief Executive of Santam Limited with effect from 14
June 2007.
Ian Kirk is the Chief Executive: Strategy and Special
Projects at Sanlam Limited.
He is the former Deputy CEO of the
Liberty Group and, prior to that, the CEO of Capital Alliance
Holdings until it was acquired by the Liberty Group in 2004.
Steffen will be employed with Santam until 14 December 2007, but
will hand over to Ian as the new CEO with immediate effect to ensure
a smooth transition. During the next six months, Steffen will be
involved in assisting Santam with the implementation of certain
projects, including our strategy in the United Kingdom.
Steffen was appointed as Santam’s Chief Executive in July 2003 to
add momentum to the Group’s strategic repositioning, specifically in
the areas of setting strategic focus, reinsurance and client
service.
After successfully meeting these deliverables, as well as
driving Santam’s capital reduction and share buyback programmes and
initiating the Group’s Black Economic Empowerment transaction, it
was agreed that a fresh approach is required to drive Santam’s
business strategy forward.
Desmond Smith, chairman of the Board of Santam said: “Steffen has
been instrumental in improving Santam’s operational performance and
reinsurance synergies and the Board would like to thank him for his
dedication and commitment.
The Group, under Ian Kirk, will continue
along the path Steffen has helped us define.”
He
added that the Board strongly supports the current management team
and has faith in the strategy on which Santam has embarked.
It was
confident that in appointing Ian Kirk, who has been a key member of Sanlam’s Executive committee, driving group wide growth,
optimisation and capital management strategies, the new CEO fully
understands and supports the strategic development of Santam.
As
an Exco team, Ian has our support. We know that he supports our
2010 strategy and current initiatives to position Santam as a leader
in the insurance industry. We have worked with Ian on a number of
Group initiatives, and he is a leader who shares our values, is very
passionate about life and people, and believes in the role of the
intermediary. He has extensive short term insurance and financial
services experience and knowledge of Santam’s strategy.
Supplied by Santam Exco Team
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