IAG axes general counsel Peter Horton over misconduct findings
The insurance group says the behaviour of Peter Horton had ‘fallen short of the expectations’ under its employee code of ethics and conduct.
Insurance Australia Group chief executive Nick Hawkins personally approved the sacking of the insurer’s veteran company secretary and group general counsel after an investigation was conducted into the senior lawyer.
The decision to remove Peter Horton immediately from IAG over findings of alleged code of conduct breaches followed the veteran legal officer being placed on a week of leave pending the investigation.
“The company has concluded that Mr Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct,” Mr Hawkins said.
“This includes the importance of being inclusive and respectful, and we will hold people to account if they fail to meet these expectations.”
The move to sack Mr Horton was approved by IAG’s board.
The axing on Wednesday came after Mr Horton had made a number of comments on platform LinkedIn celebrating fellow staff at IAG.
Emails to Mr Horton’s IAG account were met with a response noting “I may not be able to respond to emails currently”.
Although Mr Horton’s removal was announced on Wednesday, the insurer revealed early steps for his exit by appointing a new joint company secretary last week.
Andrew Collings was made IAG company secretary on November 28, joining Jane Bowd in the role.
The investigation into Mr Horton comes after a complaint was made by a fellow member of staff.
The Australian does not suggest any wrongdoing by Mr Horton, only that a complaint was made regarding his conduct.
IAG staff are expected to abide by the insurer’s code of ethics and conduct, requiring them to manage risks, comply with laws and act with honesty and integrity.
The code notes removing a staff member is only considered “in serious cases”.
Mr Horton will be paid his leave benefits but will not receive a severance or redundancy package.
Mr Horton joined IAG in August 2019, at which time the then-CEO, Peter Harmer, spruiked his “considerable experience across a range of industries”.
He took on the role of general counsel after almost three years at Transgrid where he was an executive manager of legal, governance and risk.
It was Mr Horton’s second time at an insurer, after working as group general counsel and company secretary with QBE Insurance for almost two years.
Mr Hawkins, who oversees the insurance giant behind brands such as NRMA, CGU and WFI, has made several moves to shake up the culture of IAG since taking on the role in November 2020.
IAG recently appointed William McDonnell as its new chief financial officer starting on December 11, subject to regulatory approval.
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