penn-reinstated-as-head-of-axas-australasian-operations

Penn reinstated as head of AXAÆs Australasian operations

After 10 months in a temporary position while AXA was investigated by the banking regulator, Andrew Penn returns to his old role.

By Cherie Marriott

August 02, 2006

Andrew Penn has been reinstated as the chief executive of AXA Asia-PacificÆs executive Australian and New Zealand operations after 10 months in a temporary role.

Penn was sidelined in September last year after the Australian Prudential Regulation Authority APRA investigated AXAÆs decision to recalculate benefits paid to staff under its superannuation plan.

At the time AXA moved to quell negative media reports by placing him in a strategic development role. For the last 10 months his duties as the head of the Australasian business have been handled by the insurerÆs group chief executive Les Owen.

Owen was short on detail when he reinstated Penn yesterday. ôAndy is one of our most experienced executives and...

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