Quindell’s chairman resigns; others follow suit

Robert Terry, the chairman of insurance technology firm Quindell has resigned from the board.

Steve Scott, a non-executive director of Quindell, will also step down and Laurence Moorse, group finance director, will step down from the board following the 2015 Annual General Meeting of the company.

Yesterday, November 17, financial services firm Canaccord Genuity resigned from its position as Quindell’s financial adviser and joint broker.

The board said that Terry would be retained on a consultancy basis with particular focus on the group's key relationships.

David Currie will become non-executive interim chairman of the company with immediate effect.

Currie said: "Rob is the founder of the business and has made a huge contribution to Quindell's growth to date and the Board thanks him for that. We look forward to completing our search for a new Chairman and additional non-executive directors as soon as possible."

Terry said: "I entered into the share transactions announced on November 5, 2014, with the best of intentions for the Company and all shareholders and it would have been my intention to acquire more shares were it not for the restrictions due to the discussions leading to this announcement. I am clearly disappointed and sorry that events turned out as they did.