Ann: Changes to QBE Non-executive Directors , page-2

QBE Insurance Group Limited wishes to update the market on changes to its Board of Directors.

IRENE LEE
Long-serving Non-executive Director, Irene Lee, has decided to retire from the Board effective 21st August 2013. Ms Lee has been a QBE Non-executive Director since May 2002 and has served on its Audit, Risk & Capital and Investment Committees.
Ms Belinda Hutchinson AM, Chairman of QBE said that: “The Board is extremely grateful to Irene for her many years of service and commitment to QBE. Her support and advice has been invaluable to both the Board and senior management and her stewardship as Chairman of the Audit Committee and then as Chairman of the Investment Committee has been critically important, particularly through the Global Financial Crisis.
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Irene Lee should have been removed years ago. How many mistakes were made on her watch that cost shareholders billions !!!

The next big one to go must be Belinda Hutchison (chairperson). Let's hope that the biggest shareholders like Aberdeen really wind up the ratchet.

If this was one of the big miners or banks, this board would have been wiped cleaned years ago.

Pep