Insurance broker CBG Group has relieved Stephen Darcy of its duties as insurance broking operations director.
Darcy joined CBG in February 2006 when he sold his business Everfirst Services, which owned insurance broker Swinburne James and financial services provider Swinburne James FS. He joined the board after the deal, which was worth up to £1.19m in cash and shares.
Darcy owns 688,185 shares in CBG, equivalent to 4.44%. He was issued with 699,187 shares in 2006 and 2007 for the acquisition of his business.
Group managing director Mike Askew is taking over Darcy’s role.
At 39p a share, CBG is valued at £6.19m.
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