Australian Unity (ASX: AYU) CEO Rohan Mead has announced his retirement from the health, wealth and care services provider at the end of this year after 21 years in the top job.

In that time, Mead has overseen significant growth by the mutual which has operations in home health, residential aged care, and wealth and capital markets.

During his tenure, Mead has overseen the rise in Australian Unity’s annual revenue from $400 million to $2.3 billion and the number of employees from 1,300 to 10,000 serving more than 370,000 members and 700,000 customers.

Australian Unity chair Lisa Chung paid tribute to Mead’s leadership and his “invaluable contribution” to the group over the past two decades.

“Throughout Mr Mead’s tenure, he has had a vision for Australian Unity to be recognised and respected as a leading purpose-driven organisation,” says Chung.

“He has tangibly extended the reach and influence of Australian Unity as an advocate for real wellbeing in the wider community.”

Mead has led the mutual through more than $1 billion of merger, divestment and acquisition activity including the acquisitions of Grand United Friendly Society in 2005, Lifeplan Australia Friendly Society in 2009, Home Care NSW in 2016, IOOF in 2023 and myHomecare Group last year,

Among the latest divestments is the transfer of Australian Unity Bank to Bank Australia which is expected to be finalised by the end of this year.

Chung has identified several industry achievements by Mead as CEO of Australian Unity, including reshaping access for the company and the mutual sector to capital and debt markets through advocacy and innovation, and campaigning for the reforms of the Corporations Act to enable mutuals to issue Mutual Capital Instruments without demutualising.

Mead has also implemented a long-term strategy for Australian Unity based on building a diversified portfolio of businesses that support wellbeing, as well as driving the ongoing modernisation of the company through significant systems and operating model transformations.

Chung says that throughout Mead’s tenure, he had “a vision for Australian Unity to be recognised and respected as a leading purpose-driven organisation” and that he has “tangibly extended the reach and influence of Australian Unity as an advocate for real wellbeing in the wider community”.

“It has been a joy and privilege to serve as Australian Unity’s managing director,” says Mead.

“I am humbled by, and proud of, having worked with such capable and committed colleagues in delivering valued services for our members and customers.

“Mutuals have an important role to play in the Australian economy and society - and supporting the evolution of Australian Unity as a contemporary organisation capable of meeting the growing wellbeing needs of millions of Australians has been an honour.”

Australian Mutual has begun an internal and external search to replace Mead as group managing director and CEO.

The mutual posted a strong profit result for the FY25 half-year as revenue from continuing operations surged 35 per cent to $1.32 billion.

Adjusted EBITDA from continuing operations rose 30 per cent to $58 million while net profit after tax of $11.7 million was up from $1.4 million a year earlier.

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