Beazley has announced that its Chief Financial Officer (CFO) Sally Lake has informed the Board of her intention to leave the company in 2024, after serving in the position for five years.
Prior to taking on the CFO role, Lake served as Group Actuary for five years, having previously held the role of Reserving Manager.
Before Beazley, she worked at both Lane Clark & Peacock LLP and PwC as an Actuarial Assistant.
The Board will conduct an orderly process for an external successor, which will complete during her 12-month notice period.
Adrian Cox, the Chief Executive Officer (CEO) of Beazley, commented: “Sally’s commitment to an orderly succession will conclude a remarkable career with Beazley. When Sally leaves Beazley she will have spent five years in the CFO role and over 18 years in the business.
“Sally and I have been colleagues at Beazley for more than 17 years; I will miss working with her. She is an outstanding colleague and role model who is dedicated to delivering Beazley’s sustainable growth agenda.
“We will thank Sally wholeheartedly for her leadership and valued contribution when she leaves next year and wish her every success in her next chapter. I look forward to presenting our half-year results and capital strategy with Sally as expected on 7 September 2023. Meanwhile, our guidance on growth, combined ratio and the positive outlook for the business remain unchanged.”
Lake said: “As I approach five years as CFO and after 18 years at Beazley, I believe now is the right time for the Board to begin an open, formal search for my successor. Beazley’s continued success remains my priority and I will look forward to remaining focused on delivering on our goals and a structured handover to my successor in 2024.”
Clive Bannister, the Chair of Beazley Plc, concluded, “The Board takes this opportunity to thank Sally for her substantial contribution to Beazley’s success.”