Wood will remain at the insurer during the handover, while Paymentshield’s chief financial officer Rob Evans will lead the business day to day in Southport.
Paymentshield chief executive Steve Wood will leave the business in the ‘next few months’ and his executive role on the board will be taken over by commercial director Kay Martin with immediate effect.
Wood will remain at the insurer during the handover, while Paymentshield’s chief financial officer Rob Evans will lead the business day to day in Southport.
David Ross, chief executive of Towergate, Paymentshield's parent, said: “Steve and his team have done an amazing job in his time at Paymentshield, stabilising the business amidst disruptive speculation throughout 2015 following a difficult trading period for the wider Group.
“He has led the initiative to secure new carrier relations, reenergised the workforce and reconnected customers with a much loved brand, reestablishing a market leading position. He leaves with our very best wishes and thanks for the work he has done.
“As we look to 2017 and the next phase of our transformation plan, we have taken the opportunity to review and consolidate our executive structure.
“Steve and his team have primed Paymentshield so that it is fit for future growth; now is the perfect time to bring the business closer to the centre and benefit from leverage across products and people.”
Wood joined Paymentshield as CEO in March 2015, Martin joined in July that year and Evans joined in January.
