- After about six years in the position
- Accolades, praise, thanks and good wishes for Vann
- Darren Ogden taking over in the interim
- Search for a successor
- Vann said 70 words
(exechange) — Reigate, United Kingdom, January 19, 2018 — Stuart Vann, chief executive of Esure, leaves — “by mutual consent”. It is an abrupt change. As announced by Esure Group plc in a news release on Friday, January 19, 2018, Stuart Robert Vann leaves his post as Chief Executive Officer at the internet and telephone based insurance company after about six years in the position, effective immediately.
Esure will undertake a search for a successor.
Vann’s duties will be taken over in the interim by Darren Ogden, most recently Chief Financial Officer at Esure Group plc.
“As Esure continues to evolve its long term strategy the Board and Stuart have agreed that this will be best achieved through new leadership”
Vann’s sudden departure from the CEO post is explained as follows. Esure said in a fairly blunt statement: “As Esure continues to evolve its long term strategy the Board and Stuart have agreed that this will be best achieved through new leadership with significant expertise and experience in a broad spectrum of customer facing businesses, in an increasingly digital and data driven world.”
Precise information about Vann’s future plans was not immediately available.
Esure said: “The Board of Esure Group … announces that, by mutual consent, Stuart Vann is stepping down as Chief Executive Officer with immediate effect.”
Share price decline
The change follows a decline in the share price of Esure Group plc since June 2017.
Chaired by Sir Peter Wood
Esure Group plc is chaired by Sir Peter Wood.
Sir Peter Wood founded the Group in February 2000.
Wood has served as the Group’s Chairman since February 2000 and was the Group’s Chief Executive Officer from 2006 until 2012.
In the position of CEO since 2012
Stuart Vann was appointed to the Board in September 2011 and became Chief Executive Officer in February 2012.
Vann joined the Company in 2000 and has held various roles including Head of Insurance Risk and Acquisition and Chief Operating Officer.
He is a qualified accountant with two decades of experience in the sector.
Vann has played a leading role Esure Group’s key strategic initiatives during his time at Esure including its response to the industry personal injury phenomenon, the investment in Gocompare and the Groups footprint expansion.
He is a member of the ABI’s General Insurance Council and also a member of the Worshipful Company of Insurers.
Read the full story in the exechange report 4.2018 ($).