After seven years with company.

Thorn Group has announced that Joycelyn Morton will step down from her role as chair of the board but remain a director until a replacement is announced. In the interim, non-executive director, David Foster has been appointed chairman.

The board thanked Morton for her years of dedicated service and the role she played in guiding the company to its recent settlement with the Australian Security and Investment Commission (ASIC).

Foster brings a wealth of experience in the financial services sector to the role. He was CEO of Suncorp Bank from 2008 until 2013 and holds a number of non-executive directorships in both the private and governmental sectors.

Thorn leadership team – David Foster, Andrew Stevens, Joycelyn Morton, Belinda Gibson and Stephen Kulmar

Morton said, “I am pleased to be able to hand over the chair of the company to David who will continue to provide the strong leadership Thorn requires. During my time as chair we achieved a great deal under difficult circumstances. We have a refreshed board, new leadership team, completed the ASIC settlement and appointed a new CEO who will commence on February 15. I therefore believe this is the right time for me to hand over to a new chair.”

Foster said, “The board would like to thank Joycelyn for her dedication over the last seven years. She has provided steady leadership in tackling the challenges facing the company and has not wavered on behalf of the board or the company.”