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Suncorp Group's CEO steps down

Australia's Suncorp Group Ltd. announced that Managing Director and CEO Michael Cameron will be stepping down from his post.

He will remain in an advisory capacity in the company until August 9, following the release of its full-year results, to ensure a smooth transition.

Cameron has been serving as the company's CEO for almost four years.

Suncorp Group's board has appointed group CFO Steve Johnston as the acting CEO until Cameron's successor is announced later this year.

Deputy CFO Jeremy Robson was also appointed as the acting group CFO.