13th May 2015 06:35
LONDON (Alliance News) - Admiral Group PLC on Wednesday said Chief Executive Henry Engelhardt is to step down from the role in one year's time and will be replaced by company co-founder and current chief operating officer David Stevens.
Engelhardt has been the chief executive of Admiral since its founding in June 1991. Stevens also has been with the company throughout its history and, in addition to the COO role, is the chief executive of the UK insurance business.
"On behalf of the board and the entire group, I want to thank Henry for everything he has done over so many years and will continue to do until he steps down in 12 months time. Equally, we are hugely fortunate to have someone of David's capability and experience to succeed Henry and I am very confident that Admiral will continue to go from strength to strength in the future," said Admiral Chairman Alastair Lyons.
By Sam Unsted; [email protected]; @SamUAtAlliance
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