Freedom Insurance Group Limited announced the management and director changes to ensure the composition of the Board continues to reflect the changing governance requirements of the company. The Board has appointed Ms. Pauline Vamos as a non-executive director of the company effective November 12, 2018. As Ms. Vamos is being appointed to fill a casual vacancy, confirmation of her appointment as a director will be sought from shareholders at the 2018 Annual General Meeting on 15 November 2018.

Following shareholder confirmation of Ms. Vamos' directorship, she will assume the role of Chairman of the Board. Ms. Vamos has over 30 years' experience in the insurance and financial services industry and is a qualified lawyer. She is currently a non-executive director of Mercer Superannuation Trust and Decimal Software Ltd. Ms. Vamos will bring to Freedom highly relevant experience in life insurance, regulatory, compliance and risk frameworks and governance.

This will provide invaluable support to the Board and management in addressing regulatory matters, completing the company's strategic review and implementing its outcomes, while ensuring the company's governance framework is appropriate for its changing business, as well as the regulatory backdrop. Non-executive director Ms. Katrina Glendinning has resigned as a director effective November 12, 2018 and Mr. David Hancock has advised he will resign as director effective at the conclusion of the 2018 Annual General Meeting, to allow them to focus on their executive management commitments at other companies. In this regard, the company withdraws Item 3 of the 2018 Notice of Annual General Meeting, relating to Ms. Glendinning's re-election.

Mr. Stephen Menzies and Mr. Andrew Jensen will continue as non-executive directors. The company Chief Executive Officer, Mr. Craig Orton, has advised his intention to leave the company for personal reasons prior to the end of this calendar year. The Board announced the appointment of Mr. Sean Williamson as CEO, effective from Mr. Orton's departure date.

Mr. Williamson has 25 years' experience in the life insurance industry in a broad range of roles encompassing technical, distribution, strategy and general management, including 10 years in senior leadership at Australia's life insurer, TAL. Mr. Williamson is currently consulting to Freedom and will continue in this capacity until Mr. Orton's departure to ensure a smooth leadership transition.