Entrepreneur Peter Wood, the founder of Esure, has reshuffled the company’s entire management team following the departure of chief executive Peter Graham. It is not known whether Graham has a job to go to.
His departure coincides with that of head of marketing and communications planning, Miranda Seymour.
Wood will take over as the chief executive, however he is expected to step back from his involvement in marketing – a role he assumed in 2004.
Esure is to cut back on its support for the loss-making First Alternative brand, and concentrate on its recently launched Sheilas’ Wheels brand, aimed at women drivers, and its core Esure brand.
Chris Bowden, head of marketing since April 2004, will stay in that position and is expected to assume full control of marketing.
In a statement, the company says the changes are the result of a decision to bring Esure and sister-company First Alternative closer to increase efficiency.
Wood says: “Efficiency is key to keeping us at the leading edge of our markets, and this has to start at the top. This move will increase my direct involvement with the business and slim down my senior team.” Esure is a joint venture between Wood and Halifax Bank of Scotland. In its last results, HBOS said that in 2005 its share of losses in the business were &£34m, up from a loss of &£27m the previous year. It said this was due to “the significant investment made during the year in Esure, First Alternative and Sheilas’ Wheels”.