Compliance issues prevent insurance giant from announcing CEO

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One of Australia’s largest insurance brokers has recruited an "external candidate” as CEO, but compliance issues mean the new chief's name is shrouded in mystery.

OAMPS Insurance Brokers’ CEO Keith McIvor had resigned to take some time out with his family and to pursue travel and personal interests. However, McIvor has stayed at the helm while a replacement was found.

According to Steve Lockwood, chief executive – Wesfarmers Insurance Broking, that replacement has been found after an eight-week recruitment search. However, the name of the new boss has to stay under wraps, for now.

“There was enormous interest in the role from a very high calibre of candidates and I am pleased to report that we have reached an agreement with an external candidate,” said Lockwood. “However, due to the candidate’s existing employment restrictions we cannot disclose the identity of the new CEO at this present time. We wanted to communicate to the market to keep our valued clients and partners up to date with our progress.”

Lockwood said it is likely the new CEO will not be able to commence employment prior to December 2012, while Keith McIvor’s last day with OAMPS will be Friday, 12 October 2012 and effective immediately. Mark Emney will assume acting CEO responsibilities.

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