Tower Limited announced the appointment of Mike Cutter as an independent director to the Tower Board to fill a casual vacancy. Mr. Cutter has extensive governance and executive experience in the financial services sector across New Zealand, Australia, Asia and Europe. He is currently the Chair of Arteva Funding, a non-executive Director of Sezzle and Pepper Money and, is a co-founder of credit risk management consultancy, Kadre.

Most recently, Mr. Cutter served as interim managing director for Bambora Australia and group managing director for Equifax ANZ. Previously, he served a number of Australian-based boards including Women's Cancer Foundation, Ovarian Cancer Institute, Australian Finance Congress, National Insurance Brokers Association and the Australian Retail Credit Association. Prior executive roles include CEO of OAMPS Insurance Brokers (now Gallagher), GE Money Australia and New Zealand and, CRO of ANZ Australia.

Mr. Cutter is based in Melbourne and is a graduate of the Australian Institute of Company Directors and a senior fellow of the Financial Services Institute of Australia. He holds a Bachelor of Science (Hons) from Hertfordshire University. Tower's Board has determined that Mr. Cutter is an independent director. His appointment will be effective immediately.

Tower CEO, Blair Turnbull will also step down from the Board. Mr. Turnbull was appointed to the Tower Board as an executive director pending the appointment of a new independent director in March 2023.