Challenger adds to board director lineup

Challenger has appointed two independent non-executive directors, while JoAnne Stephenson will retire on June 30.

John Somerville and David Whittle have been added to the board of Challenger and Challenger Life Company, collectively bringing over 55 years' experience.

Somerville has some 30 years' experience across ASX-listed and private businesses, including over two decades at KPMG, leading its advisory division in Australia and Asia Pacific.

He also served as chief executive and managing director of law firm Slater and Gordon.

Meanwhile, Whitter brings more than 25 years of experience across digital and software industries and was involved in the superannuation sector. He is currently the non-executive director of Metcash, Michael Hill International and is the founder and executive director of Lexer, a customer experiences software company.

His experience also includes a 10-year stint at M&C Saatchi as managing director leading the Australian business and was previously an advisor to the board of Commonwealth Superannuation Corporation.

Challenger chair Duncan West said the appointments reflect the company's commitment to recruiting industry leaders to its board.

"I am delighted to welcome John and David, whose compelling global experience will complement the capability of our existing directors and further expand and strengthen the skillset across the board," West said.

"John's broad expertise leading businesses, which includes designing and implementing governance and risk structures, will be an asset as we continue to grow our leading retirement and income franchise.

"David brings a strong focus on customer and digital innovation, which will be highly valuable as we progress our digital transformation and execute the next phase of our strategy to meet more customer needs across a broader range of channels."

Somerville and Whittle will stand for election at Challenger's Annual General Meeting on October 30.

Meantime, Challenger also confirmed the retirement of Stephenson, leaving the firm in June.

She has served as an independent non-executive director since 2012 and is chair of the Group People and Remuneration Committee and a member of the Group Risk, Group Audit, Independent and Related Party, and Nomination Committees.

West thanked Stephenson for her contribution.

"On behalf of the board and our shareholders, I would like to thank JoAnne for over a decade of exemplary service," West said.

"JoAnne has made a significant contribution to our business during her tenure. Her experience and dedication are deeply appreciated by the board and management team, and we wish her all the best for her future."