22 January 2020
CEO and Managing Director of MLC Life Insurance, David Hackett, has decided to step down from his role and will be leaving MLC Life Insurance. The MLC Limited Board supports his decision.
The Board appreciates David’s strong commitment and contribution to MLC Life Insurance. This has included leading, as the first CEO, its establishment as a standalone life insurer whilst separating from the National Australia Bank and joining the Nippon Life Insurance Group.
This has been a complex and difficult task and has required enormous personal time and energy from David. This task has been made even more complex by the significant commercial challenges facing the Australian life insurance sector along with major regulatory changes. The Board wishes David all the very best for his future.
Chief of Group and Retail Partners, Sean McCormack, will become Acting CEO and Managing Director, effective immediately, until a permanent new CEO and Managing Director is appointed.
The Board has commenced a global search and will also consider strong internal candidates.
MLC Life Insurance continues to have the full support of the Nippon Life Group, Japan’s largest private life insurer, and NAB as shareholders. MLC Life Insurance remains totally committed to its partners and policyholders as it has over the last 133 years.