Cppgroup Share Discussion Threads

[mclellan] 30/8/2013 11:52

Onwards and upwards, hopefully...and play with a straight bat

[mclellan] 30/8/2013 11:51

30 August 2013
Appointment of Chief Executive Officer and Chief Financial Officer
Further to the notice of management changes of 31 July 2013, CPPGroup Plc ("CPP" or the "Group") today announces the appointment of Brent Escott as Chief Executive Officer and Craig Parsons as Chief Financial Officer with effect from 1 September 2013.
Brent joined CPP on 17 June 2013 in the role of Interim Deputy CEO. He has over 20 years' experience in the insurance industry, most recently as Managing Director, General Insurance Division at Capita plc where he oversaw the commercial insurance business and, in addition, operations in Netherlands, Denmark and France. Brent was previously Managing Director of the UK division of Brit Insurance Holdings PLC and was founder and Managing Director of Club Direct Insurance Services Limited.
Craig has held a senior role in CPP's Group finance function since 2002, his most recent position being Director Tax & Treasury, and in this capacity he sat on the Group Executive Committee and Group Operating Committee. Craig has held primary responsibility for the Group's lender relationships and played a leading role in the successful refinancing of the business in July 2013. He qualified as a Chartered Accountant with PwC in 1995 and has 18 years' experience of working in the Financial Services industry.
Brent Escott, Chief Executive Officer, commented:
"Significant progress has been made over the past two years to refocus the business following the onset of the FCA's investigation. During my first two months at CPP I have experienced a determined company that is working hard to put its historic issues behind it after a period of immense challenge. There remains much work to be done to reposition the business for the future and I look forward to leading CPP in the next phase of its development."
Craig Parsons, Chief Financial Officer, commented:
"My 12 years with CPP mean that I know the business exceptionally well and have a comprehensive understanding of the issues we face. Significant financial challenges remain, but the recent refinancing represents a more stable platform for the business and I am looking forward to working alongside Brent to support the repositioning of the Group."

[langster] 30/8/2013 10:55

RNS re new appointments issued today.

[mclellan] 30/8/2013 07:59

EJ- "This is a real milestone achievement and turning point for the group after it has been through a very challenging time," chief executive Paul Stobart – who, together with chief finance officer Shaun Parker, will leave CPP after the refinancing is completed – told The Press.

"The current regime has been fighting fires, dealing with the difficulties caused by the past failings of the business and their aftermath. We have been trying to keep everything steady and run the business as best we can without the benefit of financial stability.

"This deal represents a three-year comfort blanket of financing which ensures we can cover our liabilities and can also fund our business plan. It provides the security for us to protect jobs and, in time and as the business grows back to strength, we can hopefully create new jobs."


So you are right that new management will come in.

[petersmith6] 29/8/2013 19:22

Would imagin they arr working on a new battle plan.with either a full rebrand or just the uk. Why change the name abroad then were doing quite well.

[mclellan] 29/8/2013 16:16

I put up the two graphs last week, EJ.
I see this as a recovery stock, just like TCG, as long as there is better management.Harriet Green has done wonders for TCG which was on its knees.
Different type of product, of course.

[petersmith6] 29/8/2013 14:25

The mms still want your shares.. now imagine what would happen if they had a re brand. ..remeber that they are a world wide company. .renember there contacts data base is huge. . And what would happen if they were taken over bay someone who knows what there doing.

[mclellan] 29/8/2013 14:15

13p to sell

[traidemark] 29/8/2013 13:39

HAWK springing into life again,

[mclellan] 29/8/2013 13:37

So can I....

[petersmith6] 29/8/2013 13:33

But I can wait....

[mclellan] 29/8/2013 13:30

500K sell followed by a 150K sell has rather ruined the recovery

[petersmith6] 29/8/2013 12:21

Indeed..hopefully the next leg up will be at a more sensible rate.

[miss ann thrope] 29/8/2013 12:07

double bottom forming?

[malcolmmm] 29/8/2013 12:05

interesting looking chart ,reminds me of something

[johncraven] 29/8/2013 11:58

Some large buys from earlier showing. This we could get a spike upwards later today

[miss ann thrope] 29/8/2013 09:33

mclellan 29 Aug'13 - 09:20 - 2962 of 2962 (Filtered)

Layered!

[mclellan] 29/8/2013 09:20

Downsize- the FCA should act more.

[downsize] 29/8/2013 09:11

Now now you two, no need to get personal! Interesting article though.

[miss ann thrope] 29/8/2013 09:08

mclellan 29 Aug'13 - 09:06 - 2959 of 2959 (Filtered)

god what a boring old fart.

[mclellan] 29/8/2013 09:06

Trust a dodgy dealer to excuse it.
It is illegal