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AIG : Dr Nora Scheinkestel appointed to the Board as a non-executive director

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Insurance Australia Group Limited (IAG) Chairman, Mr Brian Schwartz, announced that Dr Nora Scheinkestel had been appointed to the IAG Board as a non-executive director.

Dr Scheinkestel has extensive experience in corporate transactions including equity and debt raising, corporate restructuring and mergers and acquisitions and has served on a number of boards for the past 20 years. She has worked in listed, private and public companies in sectors including financial services, utilities, telecommunications and mining.

She currently holds non-executive director positions with Telstra, Pacific Brands and Orica, and will be retiring from the AMP Board at the next AGM in line with AMP’s tenure policy. Previously held directorships include Mayne Group, IOOF Funds Management, North and Newcrest Mining.

Dr Scheinkestel’s executive career has included senior roles with CRA, Macquarie Bank, Chase AMP and Deutsche Bank, focussed on international and project financing.

Mr Schwartz said Dr Scheinkestel brings to the IAG Board enormous experience and a deep understanding of organisational opportunities and risks.

“Nora is an outstanding addition to the IAG Board. She has gained impressive business experience from a number of industries and in a range of senior roles with leading organisations. I look forward to her contribution,” he said.

Dr Scheinkestel will commence in the role from 1 July 2013.

Dr Scheinkestel is an Associate Professor at the Melbourne Business School at Melbourne University.

Her background is as an executive responsible for the development and financing of major projects in Australasia and South East Asia. She currently consults in areas such as corporate governance, strategy and finance and serves as a non-executive director with a number of high profile organisations.

Dr Scheinkestel is a member of the Takeovers Panel and a fellow of the Australian Institute of Company Directors. In 2003, she was awarded a centenary medal for services to Australian society in business leadership.