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Mark Fitzgibbon, who has been at the helm of NIB Holdings since 2002, will step down from his role as CEO on 1 September. Ed Close, currently heading the health insurer’s ARHI division, is set to succeed him. Following the announcement of Fitzgibbon’s retirement and Close’s upcoming leadership, NIB Holdings saw its shares drop by 4% to $6.94 in early trading.
Close, who has held senior positions at Commonwealth Bank, is anticipated to assume his new role formally before the close of 2024. According to NIB, Close has been instrumental in driving substantial growth at ARHI, managing product development, claims, customer services, and strategic partnerships with brokers and white-label partners.
Fitzgibbon’s tenure at NIB began in 2002, during which he guided the company through significant milestones, including its demutualization and listing on the ASX in 2007. Close joined NIB Group in 2017, initially overseeing marketing and products for ARHI. By 2020, he had ascended to the role of CEO of the ARHI business.
David Gordon, NIB Group Chair, expressed gratitude towards Fitzgibbon for his extensive contribution, noting that Fitzgibbon’s 22-year leadership had steered the company through a significant transformation. Gordon stated that this transformation was a testament to Fitzgibbon’s effective leadership.
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