CPP Group, which creates assistance solutions for insurance and financial services companies, is set to close its Leeds office as it looks to “streamline” the company.
CPP Group has announced a reorganisation of its leadership team and a set of cost reduction measures which it says are “designed to streamline the Group and align overheads with the Group’s new size and focus.”
It follows the completion of a Change Management Programme (CMP) and the disposals of CPP Turkey and CPP India.
Simon Pyper is set to step down as CEO and will assume the role of chief financial officer & managing director of legacy operations. He is expected to leave the Group during 2026.
David Bowling (chief financial officer) and Eleanor Sykes (chief operating officer), meanwhile, will step down from the board and their executive roles but will continue, in a non-executive capacity, with responsibilities for Homecare Insurance Limited, the Group’s captive run-off insurance business. They will oversee its operations and orderly closure.
Brian Barter has been appointed CEO of Blink, the Group’s parametric InsurTech business, and will join the Group board.
Making significant cost reductions, the business is lowering Board costs, closing the Leeds office, and making other central savings.
The various actions taken by the Group in recent years is expected to see central costs come down from £10.1m in 2023 to a run rate in the region of £2.5m per year, following the most recent round of cost cutting.
David Morrison, chairman, said: “This reorganisation simplifies and streamlines the Group’s senior management structure, reducing aggregate central cost whilst focusing on the requirements of Blink and the management of the legacy operations.
“On behalf of the Board, I would like to thank Simon, David and Eleanor for their outstanding service and contribution to the Company. Simon took over as CEO early in 2022 and has been responsible for instigating and executing the strategy that has led to the exit from the legacy holdings in Turkey and India and refocusing the Group on Blink.
“David played a critical role in the financial management of the Group in the same period and for executing the Group’s legacy disposals, including those most recently in Turkey and India, and Eleanor has made a noteworthy contribution to the operational effectiveness of all aspects of the Group.
“In the period in which they have been in their respective roles, the Group has been transformed in terms of strategic clarity and objectives and operational discipline, and I am pleased that each of them will continue, in different capacities, to be involved with the Group for a while to come.
“On a personal note, I would like to record my thanks to each of them for the role that they have played and to wish them every success in the future.”
