Generation Life will now be headed by Felipe Araujo, who will assume the role of CEO and managing director from 1 January, the firm confirmed in a statement on Monday.
Araujo previously served as Generation Life's general manager and executive director, while Grant Hackett led the company as CEO.
Hackett will now step into the role of CEO at Generation Development Group - Generation Life's parent company - where he will focus on "driving strategic initiatives and growth" at a group level.
“Being appointed as CEO of Generation Development Group is an exciting challenge and shows the commitment we have for the group in 2025," said Hackett.
"My goal is to drive aspirational growth by leveraging our innovative mindset and unwavering commitment to our investors and shareholders."
On his own appointment, Araujo said he is "thrilled" by the appointment having "witnessed our incredible potential to innovate and grow".
"I am excited to lead our talented team as we continue to drive forward and deliver exceptional value for our investors," he said.
Also stepping into a new role is Rob Coombe who will serve as Generation Development Group's executive chairman from 1 January 2025.
Coombe, who has been GDG’s chairman since July 2017, will move to the role in order to work more closely with Hackett on key strategic initiatives for the group over the next 12-24 months.
