THE chief executive of Engage Mutual is standing down after a decade in the role.
The Harrogate-based friendly society provides savings, investment and life insurance products for more than 500,000 customers.
Andrew Haigh, who earned £306,000 last year, told the Yorkshire Post: “I just reached a point where I think it’s time to do something new.”
Peter Burrows, finance director, is stepping up to become acting chief executive until a long-term successor can be appointed.
Mr Burrows joined in 2010 from Aviva, where he held senior finance roles.
Chairman David Robinson said: “Andrew has given great service to the organisation and has made a significant and lasting impact during his time in charge.
“He will leave behind a sound and successful business with strong mutual values. We wish him every success with his future plans.”
Mr Haigh said he is keen to explore opportunities in the mutual sector. He has spent 20 years in the movement and is chairman of the Mutuo lobby group.
He said Engage is “set fair” for the future after a rebrand and a series of acquisitions helped to create a “bigger, stronger” business “that’s financially robust and in good shape”.
In the first six months of 2012, Engage saw overall premiums dip by nine per cent, while payouts to members were down 18 per cent.
The group held £84.5m in capital as of December 2011.