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- Richard Howes announces his intention to step down as CEO and Managing Director of Challenger (CGF) in March 2022
- Mr Howes has over 25 years’ financial services experience, joining the company in 2003 and being appointed CEO and Managing Director in 2019
- The board of Challenger will now undergo a search process to select a successor to lead the company through its next phase of growth
- To maintain a sense of leadership, Executive Chris Plater has been appointed Deputy CEO, effective August 16
- Challenger is up a slight 0.17 per cent on the market with shares trading at $5.79 at 10:36 am AEST
Richard Howes has announced his intention to step down as CEO and Managing Director of Challenger (CGF) in March 2022.
Mr Howes has over 25 years’ financial services experience and was appointed CEO and Managing Director in January 2019.
He joined Challenger in 2003 and has held positions such as Group CEO, Chief Executive of Distribution, Product and Marketing, and Chief Executive of the company’s life business.
Prior to joining Challenger, Mr Howes held senior roles ar Zurich Capital Markets, Macquarie and Bankers Trust.
Chairman Peter Polson had nothing but praise for Mr Howes for what he did for the company.
“As a result of Richard’s deep understanding of capital markets and their impact on our business model, he will leave Challenger with robust sustainable capital settings,” Mr Polson commented.
“In recent years he has shepherded Challenger through extraordinary headwinds, and under his leadership our Life and Funds Management businesses are leaders in their respective markets, delivering record growth this year.”
Mr Howes commented on his time as CEO and Managing Director, and said leading the business had been a privilege.
“I am exceptionally proud of what we have accomplished at Challenger, both in my time as CEO and as part of the leadership team,” Mr Howes said.
“We have built a very special business that is driven by a genuine commitment to delivering on its purpose to provide customers with financial security for a better retirement.”
“With the certainty that the business is primed for growth, I feel that now is a good time to step aside and begin the process for a new leader to drive Challenger’s exciting next chapter.”
The board of Challenger will now undergo an internal and external search process to select a successor to lead the company through its next phase of growth.
To maintain a sense of leadership, Executive Chris Plater has been appointed Deputy CEO, effective August 16.
Challenger was up a slight 0.17 per cent on the market with shares trading at $5.79 at 10:36 am AEST.
