HIGH profile business executive Tony Leibowitz is to take up the Chairmanship of leading insurance group Ensurance Limited (ASX: ENA) at the same time as the company has announced a fully underwritten $3 million placement.
According to the Company, the appointment of Mr Leibowitz as Executive Chairman and the strong support for the placement will assist underpin the Company’s plans to expand both its UK and Australian operations.
Business executive Tony Leibowitz – Chairman of leading insurance group Ensurance Limited (ASX: ENA)
Mr Leibowitz has over 30 years of corporate finance, investment banking and broad commercial experience with a proven track record of generating significant shareholder value, most notably in his roles as Chairman of Chandler Macleod Limited and recently with lithium miner Pilbara Minerals Limited.
He was a Global Partner at PricewaterhouseCoopers and is a Fellow of the Institute of Chartered Accountants in Australia.
Mr Leibowitz will spend his time in both London and Sydney.
The $3 million placement has been fully underwritten by Transocean Securities Pty Ltd, a Sydney based boutique advisory and equities group with extensive global networks.
Mr Leibowitz, via his private company Kalonda Pty Ltd, has agreed to sub-underwrite 50% of the Placement, subject to shareholder approval.
The company has also announced an organisational restructure.
With the appointment of Mr Leibowitz as Executive Chairman, Stefan Hicks will move from the role of Managing Director to the newly created role of Business Development Director, with direct responsibility for the opening of new international markets, key client engagement and retention and establishment of new products utilising the Ensurance platform.
Mr Brett Graves has stepped down from the board and will focus on implementing the sales strategy and managing relationships with key underwriting partners in Australia. His role as Chief Operating Executive of the Australian operations will continue under Tony’s guidance and mentoring.