QBE announces chairman’s retirement
QBE Insurance has announced the retirement of chairman John Cloney effective 4 July 2010 and the election of his successor Belinda Hutchinson.
Ms Hutchinson was appointed to the QBE board in 1997 and is chairman of the investment committee and a member of the audit, chairman's and funding committees.
Mr Cloney joined QBE as CEO in 1981 when the company's main activities were based in Australia and its market capitalisation was Aus$24m (£14.51m). When he retired as CEO in January 1998 QBE's market capitalisation had grown to Aus$2.3bn and it was represented in 20 countries. Mr Cloney was subsequently appointed non-executive chairman in
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