Jennings is the company’s longest standing employee after 29 years, including 14 years as chief executive.
“Over three decades Milton has seen the insurance industry evolve significantly and has played a pivotal role in growing Fidelity Life into the strong force it is today," chairman Ian Braddock says. "He is highly regarded in the wider insurance industry and his exceptional passion has been reflected in his long tenure with the organisation.”
Jennings will stay on with the company as a board adviser.
“We are fortunate to continue to benefit from Milton’s vast experience and expertise in this new advisory role, which will see him take responsibility for a number of special projects. One of these is helping grow the advice model in New Zealand, encouraging broader participation and driving the best outcomes for advisers, consumers and the greater insurance industry.”
Jennings says he will also spend time travelling in February and March, undertaking visits around the country to advisers.
“After almost three decades I have an inherent connection to Fidelity Life and look forward to continuing my involvement with the company in a board advisory role. Twenty nine years is a milestone and it’s time now to take up some new opportunities, including some directorships and other governance opportunities,” he says.
Jennings started with Fidelity Life in 1986 as accountant/company secretary, became general manager – sales and marketing in 1996 and was then promoted to chief executive in 2001.
Fidelity Life’s Board is undertaking an external search for a new chief executive. In the meantime current chief financial officer Ed Eadie will assume the role of acting CEO in the New Year to cover Mr Jennings’ extended travel time away from the office.
On 7 December 2015 at 8:51 am Bernard McCrea said:
Congratulations Milton on such a successful career. Many brokers have built successful businesses with your help and assistance. Wish you all the best in your future endeavors.
Cheers Bernie
On 8 December 2015 at 10:35 am Jacqui Dunphy said:
I wish you all the very Best Milton. You are one of the most Ethical Fine Men in this Industry. Please keep in touch.
Jacqui
On 8 December 2015 at 12:44 pm Dg said:
All the best Milton I agree with Jacqui, you will be missed by Fidelity and the wide I.F.A adviser industry.
Dg
On 9 December 2015 at 5:42 pm Alison Renfrew said:
Many advisers have a high respect for Milton. I'm one of them. It's the person at the helm that makes a great company. In the 32 years that I've worked in the investment advisory industry I've seen GMs and CEOs come and go. I've seen great ones leave to be replaced by mediocre ones and then the slow (or not so slow)demise of a great company. Fortunately Milton is staying on in an advisory role so there is hope. I've always admired the way Milton relates to employees and brokers who represent an extremely diverse range of personality types. He is intelligent, thoughtful, loyal and tenacious. Great qualities. From a selfish perspective I'm sorry you're leaving Milton but I understand. A woman CEO would be great. Fidelity is a tad too male orientated at the top. It's a statistical fact that successful businesses have roughly equal numbers of competent women and men making strategic decisions in senior positions. Please consider. A Renfrew
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Cheers Bernie