Troubled insurance outsourcer still in talks with potential division buyers


Quindell has hired former Helphire chairman Richard Rose as its new non-executive chairman.

He will replace interim non-executive chairman David Currie, who stepped into the role after the departure of Rob Terry in November.

Rose is currently chairman of online kitchen appliance retailer AO World, food wholesaler Booker Group and agricultural feed manufacturer Anpario Group.

He was also previously executive chairman of credit hire firm Helphire, now known as Redde.

The troubled insurance outsourcer has also hired one-time Prudential chief executive Jim Sutcliffe as strategy director and deputy chairman.

Sutcliffe is currently chairman of Sun Life Financial in Canada, a senior independent director of mining company Lonmin and a non-executive director of South African financial services group Liberty Holdings.

As part of their pay package, Quindell will grant Rose options on 8.73 million Quindell shares and Sutcliffe options on 10.9 million shares.

As well as Rose and Sutcliffe, Quindell has hired consultancy firm BaxterBruce, of which Sutcliffe is a director.

Talks with buyers

 As announced on 2 January, Quindell is continuing talk to a third party about the sale of an operating division.

It said it is also in early discussions with “a range of parties” interested in buying a number of its businesses.

But it added: “There can be no certainty that any of these discussions will lead to the disposal of any of the group’s assets.”

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