IOOF appoints new Independent Director

IOOF has announced the appointment of Michelle Somerville as an independent board director, effective 1 October 2019.

Somerville currently serves on the boards of The GPT Group, Bank Australia and a number of smaller organisations.

Previously, she spent nearly 14 years as an audit partner with KPMG Australia, with a focus on the financial services industry in both Australia and overseas.

In welcoming her to IOOF, chair Allan Griffiths said: "Michelle will bring deep and relevant finance, risk and governance experience to the Board, having worked in the financial services industry in both her KPMG and non-executive roles, in both the listed and non-listed spaces."

He added: "Michelle will be a natural successor to Jane Harvey as Chair of the Group Audit Committee and brings a number of other qualities to the Board. We're looking forward to the valuable contribution she will make to the group."

In announcing her appointment, IOOF also acknowledged Somerville as a "passionate supporter of diversity and inclusion in the workplace [who has] influenced change in this area over her professional career."

IOOF has also announced that Lindsay Smartt has been appointed as an independent director of APRA regulated entity boards IOOF Investment Management Limited and IOOF Limited.