Tower Management

Management criteria checks 4/4

Tower's CEO is Blair Turnbull, appointed in Aug 2020, has a tenure of 3.67 years. total yearly compensation is NZ$657.59K, comprised of 100% salary and 0% bonuses, including company stock and options. directly owns 0.067% of the company’s shares, worth NZ$208.76K. The average tenure of the management team and the board of directors is 2.3 years and 5.3 years respectively.

Key information

Blair Turnbull

Chief executive officer

NZ$657.6k

Total compensation

CEO salary percentage	100.0%
CEO tenure	3.7yrs
CEO ownership	0.07%
Management average tenure	2.3yrs
Board average tenure	5.3yrs

Recent management updates

Should Shareholders Reconsider Tower Limited's (NZSE:TWR) CEO Compensation Package?

Feb 21

Recent updates

Market Still Lacking Some Conviction On Tower Limited (NZSE:TWR)

Apr 16

Should Shareholders Reconsider Tower Limited's (NZSE:TWR) CEO Compensation Package?

Feb 21

Trade Alert: The Chief Executive Officer Of Tower Limited (NZSE:TWR), Blair Turnbull, Has Just Spent NZ$71k Buying 58% More Shares

Mar 03

Do Institutions Own Tower Limited (NZSE:TWR) Shares?

Feb 17

Tower's(NZSE:TWR) Share Price Is Down 61% Over The Past Five Years.

Jan 24

Has Tower Limited's (NZSE:TWR) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

Dec 30

Have Insiders Been Buying Tower Limited (NZSE:TWR) Shares This Year?

Dec 09

CEO Compensation Analysis

How has Blair Turnbull's remuneration changed compared to Tower's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2023	NZ$658k	NZ$658k	NZ$2m
Jun 30 2023	n/a	n/a	NZ$5m
Mar 31 2023	n/a	n/a	NZ$8m
Dec 31 2022	n/a	n/a	NZ$13m
Sep 30 2022	NZ$650k	NZ$650k	NZ$17m
Mar 31 2022	n/a	n/a	NZ$10m
Dec 31 2021	n/a	n/a	NZ$14m
Sep 30 2021	NZ$650k	NZ$650k	NZ$18m
Jun 30 2021	n/a	n/a	NZ$12m
Mar 31 2021	n/a	n/a	NZ$7m
Dec 31 2020	n/a	n/a	NZ$9m
Sep 30 2020	NZ$678k	NZ$100k	NZ$11m

Compensation vs Market: Blair's total compensation ($USD390.05K) is below average for companies of similar size in the NZ market ($USD574.88K).

Compensation vs Earnings: Blair's compensation has been consistent with company performance over the past year.

CEO

Blair Turnbull

3.7yrs

Tenure

NZ$657,588

Compensation

Mr. Blair McLaren Turnbull served as Chief Digital Officer at Aviva Plc since September 2019. He serves as the Chief Executive Officer at Tower Limited since August 1, 2020 and served as its Interim Execut...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Blair Turnbull	Chief Executive Officer	3.7yrs	NZ$657.59k	0.067% NZ$ 208.8k
Paul Johnston	Chief Financial Officer	2.3yrs	no data	no data
Andrew Hambleton	Chief Administrative Officer	1.1yrs	no data	no data
Tania Pearson	General Counsel & Company Secretary	no data	no data	no data
Emily Davies	Head of Corporate Affairs & Sustainability	no data	no data	no data
Michelle Finch	Chief Revenue	2.3yrs	no data	no data
Ronald Mudaliar	Chief Underwriting Officer	4.7yrs	no data	no data
Paula Brake	MD of Pacific	no data	no data	no data
Steve Wilson	Chief Claims Officer	2.4yrs	no data	no data
Anna Kooperberg	Chief Customer Experience Officer	less than a year	no data	no data
Sharyn Reichstein	Chief Risk Officer	less than a year	no data	no data
Geoff Atkins	Appointed Actuary	no data	no data	no data

2.3yrs

Average Tenure

Experienced Management: TWR's management team is considered experienced (2.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Michael Stiassny	Independent Chairman	11.5yrs	NZ$180.00k	0.16% NZ$ 515.5k
Geraldine McBride	Independent Non-Executive Director	1.5yrs	NZ$100.00k	0.0014% NZ$ 4.5k
Michael Cutter	Independent Director	less than a year	no data	0.0092% NZ$ 28.6k
Graham Stuart	Independent Non-Executive Director	11.9yrs	NZ$110.00k	0.053% NZ$ 167.1k
Rodney Reid	Director of National Pacific Insurance Limited	no data	NZ$4.31k	no data
Alden Godinet	Director of National Pacific Insurance Limited	no data	NZ$4.31k	no data
Marcus Nagel	Non-Executive & Non Independent Director	5.3yrs	NZ$100.00k	0.000020% NZ$ 62.6

5.3yrs

Average Tenure

62yo

Average Age

Experienced Board: TWR's board of directors are considered experienced (5.3 years average tenure).

Tower Management

Management criteria checks 4/4

Key information

Recent management updates

Tower Limited, Annual General Meeting, Feb 21, 2024

Tower Limited Announces Board Changes

Should Shareholders Reconsider Tower Limited's (NZSE:TWR) CEO Compensation Package?

Chief Executive Officer recently sold NZ$82k worth of stock

Tower Limited, Annual General Meeting, Feb 28, 2023

Tower Limited Announces the Appointment of Geraldine McBride as a Non-Executive Director

Recent updates

Price target increased by 18% to NZ$0.90

Tower Limited to Report First Half, 2024 Results on May 28, 2024

Market Still Lacking Some Conviction On Tower Limited (NZSE:TWR)

Consensus EPS estimates increase by 81%

Tower Limited Revises Earnings Guidance for the Fiscal Year 2024

Capital Insurance Group agreed to acquire TOWER Insurance (Vanuatu) Limited from Tower Limited (NZSE:TWR).

Tower Limited, Annual General Meeting, Feb 21, 2024

Consensus EPS estimates fall by 17%

New minor risk - Earnings quality

Tower Limited Announces Board Changes

Tower Limited to Report Fiscal Year 2023 Results on Nov 23, 2023

Tower Limited Revises Earnings Guidance for the Full Year of 2023

Consensus EPS estimates have been downgraded.

Price target decreased by 7.1% to NZ$0.78

First half 2023 earnings released: NZ$0.02 loss per share (vs NZ$0.007 profit in 1H 2022)

Price target decreased by 9.1% to NZ$0.80

Consensus EPS estimates fall by 49%, revenue upgraded

Tower Limited Provides Earnings Guidance for the First Half of Fiscal Year 2023

Consensus EPS estimates fall by 12%, revenue upgraded

Should Shareholders Reconsider Tower Limited's (NZSE:TWR) CEO Compensation Package?

Consensus EPS estimates fall by 15%

Tower Limited Reaffirms Earnings Guidance for the Fiscal Year 2023

Upcoming dividend of NZ$0.04 per share

Chief Executive Officer recently sold NZ$82k worth of stock

Tower Limited, Annual General Meeting, Feb 28, 2023

Full year 2022 earnings: EPS and revenues miss analyst expectations

Tower Limited Announces Dividend for the Six Months Ended September 30, 2022, Payable on February 1, 2023

Alpha Insurance Limited completed the acquisition of TOWER Insurance (PNG) Limited from Tower Limited (NZSE:TWR) for approximately AUD 10 million.

Tower Limited to Report Fiscal Year 2022 Results on Nov 23, 2022

Tower Limited Provides Dividend Guidance for the Year to 30 September 2022

Tower Limited Announces the Appointment of Geraldine McBride as a Non-Executive Director

Tower Limited Announces Interim Dividend for the Period Ended March 31, 2022, Payable on June 30, 2022

Alpha Insurance Limited agreed to acquire TOWER Insurance (PNG) Limited from Tower Limited (NZSE:TWR) for AUD 7.9 million.

Alpha Insurance Limited agreed to acquire TOWER Insurance (PNG) Limited from Tower Limited (NZSE:TWR) for AUD 7.9 million.

Upcoming dividend of NZ$0.025 per share

Tower Limited Announces Retirement of Warren Lee as Director

Tower Limited (NZSE:TWR) agreed to acquire Portfolio of insurance business of TSB Bank Limited from TSB Bank Limited for Approximately NZD 5 million.

Price target decreased to NZ$0.90

Tower Limited Provides Dividend Guidance for the Fiscal Year 2022

First half 2022 earnings released

Tower Limited Announces Dividend for Six Months Ended March 31, 2022, Payable on June 30, 2022

Insufficient new directors

Tower Limited to Report Q2, 2022 Results on May 26, 2022

Tower Limited Provides Earnings Guidance for the Year 2022

Insufficient new directors

Upcoming dividend of NZ$0.025 per share

Full year 2021 earnings: EPS and revenues miss analyst expectations

Price target decreased to NZ$1.00

Upcoming dividend of NZ$0.025 per share

First half 2021 earnings released: EPS NZ$0.027 (vs NZ$0.035 in 1H 2020)

Chief Executive Officer recently bought NZ$69k worth of stock

Tower Confirms Interim Dividend, Payable on 14 July, 2021

Consensus forecasts updated

Tower Limited to Declare an Interim Dividend

Trade Alert: The Chief Executive Officer Of Tower Limited (NZSE:TWR), Blair Turnbull, Has Just Spent NZ$71k Buying 58% More Shares

Chief Executive Officer recently bought NZ$71k worth of stock

Price target raised to NZ$1.15

Analysts update estimates

New 90-day high: NZ$0.73

Do Institutions Own Tower Limited (NZSE:TWR) Shares?

Tower's(NZSE:TWR) Share Price Is Down 61% Over The Past Five Years.

Has Tower Limited's (NZSE:TWR) Impressive Stock Performance Got Anything to Do With Its Fundamentals?

Tower Limited, Annual General Meeting, Feb 23, 2021

Have Insiders Been Buying Tower Limited (NZSE:TWR) Shares This Year?

Independent Non-Executive Director recently bought NZ$62k worth of stock

Independent Chairman recently bought NZ$120k worth of stock

Revenue and earnings miss expectations

Full year 2020 earnings released: EPS NZ$0.029

New 90-day high: NZ$0.61