Steadfast's search for a new group CEO is under way after Robert Kelly confirmed his pending retirement to the board.

Mr Kelly, who co-founded the group in 1996 and led its listing on the Australian Securities Exchange in 2013, intends to transition to a non-executive director role.

“Under his stewardship, Steadfast has transformed into Australasia’s largest general insurance broker network and group of underwriting agencies and expanded internationally,” the group said tonight.

“The leadership transition plan agreed by the board and Mr Kelly follows succession planning discussions which have been under way for some time and designed to enable a smooth change of leadership.”

The board has engaged consulting firm Spencer Stuart to carry out a “comprehensive search” for Mr Kelly’s successor.

“Our search process is progressing,” chair Vicki Allen said.

“The board has confidence in the capability and experience of Steadfast’s executive leadership team. Internal candidates are being considered alongside external candidates as part of a thorough process.”   

Steadfast says it expects to announce a new CEO in time for the full year results in August and that Mr Kelly will seek election as a non-executive director at the next AGM as part of “an orderly transition”.

“It has been a privilege to play a leadership role in the creation of Steadfast,” Mr Kelly said. 

“I am extremely proud of the achievements of the company; its strong track record clearly demonstrates the strength of the business model and positions the business to deliver sustainable value to our shareholders for many years to come.” 

Ms Allen paid tribute to Mr Kelly’s leadership.

“In initiating and agreeing this transition plan with the board, Robert has demonstrated his strong commitment and service to Steadfast.

“Robert’s contribution cannot be understated.”