Tower appoints insurance veteran Naomi Ballantyne as new Chair
Tower Limited (ASX: TWR) has confirmed that Tower appoints Naomi Ballantyne Chair, effective immediately following its Annual Shareholder Meeting on 18 February 2026. The appointment follows the retirement of Michael Stiassny, who stepped down as a director after guiding the company through a period of balance sheet strengthening and operational advancement.
Ballantyne brings over 40 years of insurance sector experience to the role. She joined the Tower Board in May 2025 to fill a casual vacancy and was re-elected at today’s meeting, positioning her to lead the board during what the company describes as a period of strong momentum.
The leadership transition represents continuity rather than disruption. Ballantyne’s background as both a founder and operator across New Zealand’s financial services sector provides the board with direct industry expertise at a time when the company is focused on sustainable growth and operational resilience.
Who is Naomi Ballantyne?
Ballantyne is best known for founding Partners Life in 2010, which she led to become one of New Zealand’s most successful life insurers before its sale in 2023. That track record demonstrates both entrepreneurial capability and the ability to scale and exit a business successfully.
Her current and previous roles include:
- Managing Director, KNK Consulting (current)
- Chair, TAP Group Limited (current)
- Director, Dai-ichi Life Asia Pacific Limited (current)
- Founder, ING Life (NZ) (prior)
- Founder, Unique Solutions and Advice (prior)
- Chief Operating Officer, Sovereign, now AIA (prior)
This blend of founder experience, executive leadership, and governance positions across multiple boards provides Tower with a Chair who understands both the operational realities of running an insurance business and the strategic oversight required at board level. For shareholders assessing board capability, Ballantyne’s experience spans the full lifecycle of building, scaling, and exiting financial services businesses.
Outgoing Chair’s legacy
Ballantyne acknowledged the contributions of outgoing Chair Michael Stiassny, noting the progress made during his tenure.
Naomi Ballantyne
“During his tenure Tower has strengthened its balance sheet, sharpened its strategic focus, and made major advances in digital and operational capability.”
The statement positions the transition as occurring after a period of operational improvement rather than amid crisis or underperformance. For investors, this context suggests that Ballantyne inherits a platform that has been stabilised and positioned for growth, rather than requiring immediate restructuring.
Strategic priorities ahead
Ballantyne outlined her focus areas in remarks following her election, emphasising sustainable growth, resilience, and shareholder value delivery.
Naomi Ballantyne
“I look forward to working with my fellow directors to support sustainable growth, continue to strengthen Tower’s future resilience, and deliver strong value for both customers and shareholders.”
The announcement provides limited detail on specific initiatives or strategic shifts. The language suggests continuity of existing priorities rather than a pivot in direction. For investors, the key takeaway is that Tower’s strategic framework remains intact, with Ballantyne positioned to oversee execution rather than introduce wholesale change.
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