Direct Line Insurance Group PLC (LSE:DLG) has appointed Jane Poole as the insurance firm’s new chief financial officer, replacing Neil Manser, who has been in the role for three years.
Last month the FTSE 250-listed company rejected a takeover bid from Belgium's Ageas, instead saying it plans to slash costs, which analysts say will make it a tough few years ahead.
Poole has been CFO of Aviva's UK and Ireland general insurance business for the past three years; prior to Aviva, she held the same role at Royal & Sun Alliance’s UK & International businesses.
"The board conducted an extensive search to secure such a high calibre appointee and I am confident that Jane Poole will be a great asset to our organisation,” chair Danuta Gray said of the appointment.
“At the same time, I would like to thank Neil Manser for steering the group through what has been a challenging time and the part he has played in stabilising the business for the future."
The FTSE 250-listed company chalked up significant operating losses in the past year, forcing management to implement a £100 million cost-saving programme.
Direct Line suitor Ageas walked away in March after two attempts were rejected.
Poole expressed delight at “joining Direct Line Group as CFO at this important time and motivated to drive business performance to realise the significant potential ahead”.