Steadfast Group’s (ASX:SDF) chief financial officer, Stephen Humphrys, has announced his retirement, effective at the end of August. The decision is driven by personal reasons, specifically concerning both his health and family. Robert Kelly, Steadfast’s chief executive officer, expressed support for Humphrys’ decision to prioritise his health and family, wishing him well for the future.
Steadfast Group is the largest insurance broker network and underwriting agency group in Australia and New Zealand. They provide services to insurance brokers. Hannah Lee, the company’s current financial controller, will step into the role of acting CFO following Humphrys’ departure.
The announcement comes after Steadfast faced scrutiny last year. An ABC Four Corners investigation alleged the company engaged in undisclosed schemes involving kickbacks to strata management firms in exchange for directed insurance work.
Steadfast disputed the accusations at the time. The leadership transition in the finance department marks a significant change for the company as it continues to navigate the insurance market landscape.