- On 27 July, the stock price of NIB Holdings Ltd reached a new 52-week high.
- Recently, Mr Peter Harmer has been appointed as an Independent NonExecutive Director of the nib Board by NIB Holdings Limited.
- Mr Steve Crane, the NHF's Chairman, and Non-Executive Director, will retire from the board on 29 July, 2021.
The share price of NIB Holdings Ltd (ASX: NHF) had been on the rise after the announcement of the restructuring of company's board last week. Since last week, the stock has been performing on a strong note, setting a new all-time high of AU$7.30 per share on 27 July during intraday trading.
Let’s see what triggered the price rise.
How is Board restructuring favouring NIB?
NIB Holdings Limited (ASX: NHF), a private health insurance firm, declared a significant board restructuring and the appointment of Mr Peter Harmer as an Independent Non-Executive Director of the nib Board. Mr Harmer is a seasoned professional with over 40 years of experience in the Australian and international insurance and financial sectors.
According to the NIB, Mr Steve Crane, the NHF's Non-Executive Director, and Chairman will retire from the Board on July 29, 2021.
On his retirement, Mr Crane commented,
Source: ASX announcement, 20/07/2021
Mr David Gordon, the present Independent Non-Executive Director, would be appointed to the position after Mr Crane's retirement. He has more than 20 years of experience as a director of private and public firms and extensive corporate advisory and financial services knowledge.
Moreover, Mr Gordon expressed his delight and said he is eager to take on the role. He also thanked Mr Crane for his exceptional service to the firm over the past 10 years.
Why are shares of Nib Group worth looking at?
Nib Group has become Australia's third-largest travel insurer and global distributor of travel insurance, giving financial security and assurance to passengers wherever they are in the globe.
The company's current dividend yield is 1.93%. NIB has showcased a good dividend pay-out history since September 2009.
The company has given a return of 60.6% in the last year. NIB Holdings Limited was trading at AUD 7.260 on 27 July 2021 at the time of writing the article..