19th Jun 2019 10:46
(Alliance News) - Randall & Quilter Investment Holdings Ltd's joint founder Ken Randall is to step down as chief executive, the company said on Wednesday.
Randall founded Randall & Quilter alongside Alan Quilter in 1991. Though he steps down as CEO, he will remain as executive chair, with Quilter remaining as chief financial officer.
However, Quilter also will become co-chief executive, alongside incoming co-CEO Roger Sellek, who joins from insurance-focused credit rating agency AM Best.
Randall commented: "Succession planning has been high on the board's agenda and, with the continued development of R&Q's business, it's time to add further strength to our senior leadership team and for me to step back from day-to-day operations.
"Alan founded the business with me nearly 30 years ago and has played a key part in the growth of the business. He will retain oversight of the group's financial and investment management activities. Roger has been known to the group for many years, and I am delighted to welcome him back to R&Q after an absence of more than 25 years."
Randall & Quilter is a non-life legacy insurance investor and capacity provider of US and European managing general agent programme business.
Shares were untraded Wednesday at 176.60 pence each.
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