CBL Corporation’s chief operating officer Suzanne Tindal has left the company, after recent events that are already known to the market.
It was announced, on November 27, that Tindal would take up her role on February 01. However, Tindal and CBL, in an announcement from the NZX, have agreed to end their employment relationship.
Last week, February 09, CBL’s shares were suspended by the NZX due to concerns that the company failed to give complete and true material information to the market. The company was also placed into a trading halt. This came just days after CBL updated the market on its amended ratings by A.M. Best. CBL Insurance had its issuer credit and financial strength ratings downgraded under review with negative implications; and CBL Corporation’s issuer credit rating downgraded under review with negative implications.
On Wednesday, February 14, CBL announced its decision to exit its French construction insurance business and focus on core business products that are more profitable.
The company is set to announce its full-year results on February 27.