Mark Fitzgibbon, the Managing Director and Chief Executive Officer of nib Holdings, has announced his retirement, effective from 1 September 2024. He's being replaced by current division head and former marketing leader, Ed Close, who has been with the health insurer for more than seven years.

Fitzgibbon joined nib in 2002 as Managing Director and CEO, leading the company's demutualisation and listing on the ASX in 2007.

Nib Group Chair, David Gordon, expressed his gratitude for Fitzgibbon's leadership and contribution over more than two decades at the helm.

“Mark has been a tremendous leader at nib and has had an enormous impact on the Australian health sector, making an extraordinary contribution over more than two decades,” said Gordon.

“From modest beginnings in 1952, today nib provides more than 1.6 million Australian and New Zealand residents with private health insurance; it looks after the health and wellbeing needs of more than 200,000 international students and workers; nib is Australia’s third-largest travel insurer, a 24-7 global business; and it helps around 40,000 participants in Australia’s disability sector. For the last 22 years, Mark has been at the helm of a company that has undergone a remarkable transformation, and that transformation is a great credit to his leadership."

Close (pictured) has been selected as nib’s incoming Managing Director and Chief Executive Officer, and is expected to formally take up his position before the end of 2024. Close is currently the Chief Executive of nib’s core Australian Residents Health Insurance (arhi) business, where he has driven strong growth.

Close has been spearheading nib’s key payer to partner strategy and health management programs, designed to deliver better health outcomes for members. Close also leads nib’s partnership with health-tech company, Midnight Health, and is one of nib’s representatives on the Board of Honeysuckle Health, a joint venture company between nib and global healthcare company Cigna.

Close has worked his way up NIB's executive ranks, joining initially as head of marketing and products before stepping up to divisional CEO position.

“I’m delighted with Ed’s appointment,” Gordon said. “It is a testament to Mark’s leadership, and team development, that we can appoint Ed with great confidence.

“Ed has deep insights into the way nib can continue to help shape the future of healthcare in Australia and he has the support of nib’s senior Executive team and the Board to achieve that. We look forward to working with him.”

Outgoing CEO Fitzgibbon also expressed his support for Close's appointment, stating, “Ed is an outstanding leader and will continue to be supported by nib’s world-class Executive team. I look forward to working with him during the transition period.”

Close's total fixed remuneration is $1,050,000 per annum, reviewed annually. Nib Group will announce its FY24 profit result on 26 August 2024.