Tower Limited (NZX/ASX:TWR) has officially appointed Paul Johnston as its permanent Chief Executive Officer, effective immediately. Johnston, who has served as interim CEO since February 12, 2025, brings over 20 years of experience in the insurance and financial services sector to the role. Prior to becoming interim CEO, Johnston was Tower’s Chief Financial Officer, a position he assumed in January 2022 after relocating from Chubb, where he held CFO and Director roles for the Far East Region. Before Chubb, he held senior management positions at AIG for four years.
Tower Chairman Michael Stiassny cited Johnston’s extensive international experience, strong performance as CFO, and expertise in insurance profitability as key factors in his appointment. Johnston himself expressed his enthusiasm for the role and his commitment to improving Tower’s performance through a focus on core insurance principles and sustainable, profitable growth. Tower is also commencing an executive search for a permanent Chief Financial Officer. Current interim CFO, Angus Shelton, will remain in the role to ensure financial stability during the recruitment process. The company will provide a further market update regarding the CFO search in due course. The appointment signals a period of stability and focused growth for the Kiwi insurer amid challenging market conditions.
