FD takes over at Claims Direct
Paul Doona, current financial director at Claims Direct, the personal injury specialist, is to replace Colin Poole as chief executive and managing director.
The move was announced in a boardroom shuffle that sees Poole taking on the role of non-executive deputy chairman at the embattled group.
Doona takes over at a difficult time for the PI group, which has already issued two profit warnings this year and seen its share price tumble from 353.5p last year to a low of 8.25p this year.
The group courted controversy by asking clients to buy an insurance policy if it takes on their case.
Claimants rated a better than 50% chance of success are given a loan to take out the insurance, which pays out both sides’ costs and the premium if they lose.
The group said the changes reflect the continuing evolution of the business, allowing greater focus to be brought to bear on operational issues, while retaining the ability to consider future strategic opportunities.
Doona, who previously worked for Deloite Haskins & Sells and Grant Thornton, will be supported by Lee Britain, financial controller at the group.
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