5 Mar 2012

Jeffries resigns as chairman of Insured Group

11:45 am on 5 March 2012

Bill Jeffries, who was last month found guilty of misleading Lombard Finance investors, has resigned as chairman of Insured Group, citing personal reasons.

Mr Jeffries, fellow former cabinet minister Sir Douglas Graham and two other business associates, are awaiting sentence for misleading Lombard Finance investors.

Barry Driscoll has been appointed as chairman and the company is seeking a waiver from the NZX to allow it time to find and appoint a replacement director.