First Central Group (FCG) has announced that Craig Morton, its current deputy CFO, will succeed John Kennedy as CFO of the insurance group.
Despite stepping back from the role, Kennedy will remain as CEO of First Central Insurance Management (FCIM), the motor insurance broker within FCG.
According to the group, Kennedy “set exceedingly high standards and has developed key capabilities that will underpin the insurance group’s continued success”. He will now work closely with Morton to “ensure a smooth transition” to the role.
Morton joined the group as deputy CFO at the beginning of the year. He previously worked at PwC, Santander and RBS Group and also brings important experience from his time as deputy finance director of Direct Line Group and director of Finance for Quilter.
According to the group, he has already made a “significant contribution” to its strong performance and will play a critical role in delivering on the company’s “ambitious” growth plans moving forward.
Michael Lee, CEO, said: “I, and the entire executive team, want to thank John for playing such an important role in our recent success and wish him all the best for the future.
“He has been instrumental in setting exceedingly high standards and developing the key capabilities that will underpin our continued success. I am looking forward to working with Craig in his capacity as our group CFO as we move into the next phase of our plan.”
Kennedy said: “It’s been a pleasure and a privilege to work alongside the Shareholders, Boards and the Executive as First Central has grown from strength to strength over the past three years.
“It’s been an amazing and enjoyable journey helping the company achieve exceptional growth with sustainable profits, underpinned by an agile, ambitious culture. There’s no doubt Michael and the team will continue to successfully deliver the company’s ambitious 5-year plan.”
Morton added: “I’m delighted to be stepping into the role of Chief Financial Officer at First Central and look forward to building on the fantastic work that John has contributed in recent years.
“I’m excited to work alongside the leadership team in helping to move the business forward, meeting the ambitious plans for growth and continuing to deliver the high standards set by the company’s vision and values.”