Battered insurer has new deputy head
The appointment forms part of York-based CPP’s restructuring plans, announced last month, which saw Paul Stobart, CEO, and Shaun Parker, CFO, announce their intention to step down from their respective roles following a transition period.
CPP, founded by entrepreneur Hamish Ogston, has been battered by the mis-selling scandal. It was last year fined £10.5m by the Financial Services Authority for “widespread” mis-selling. Mr Ogston is considering taking the company private with a possible 1p per share offer worth £1.7m.
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Hide AdMr Stobart said that Mr Escott’s “expertise, together with his wealth of experience in insurance and operations, will be instrumental as we complete the work at hand to ensure CPP is set on a firm footing for the future”.
Mr Escott most recently held a number of interim management consultancy roles and was MD of the general insurance division at Capita.