Direct Line Share News (DLG)

(Sharecast News) - Insurance group Direct Line said on Thursday that Neil Manser would take over as chief financial officer on a full-time basis, with effect from the conclusion of the company's annual general meeting.

Former CFO Tim Harris took a leave of absence back in January while a member of his family underwent medical treatment but Direct Line stated it was now likely that said medical treatment would continue longer than had been hoped. As a result, Harris opted to retire as an executive director and as CFO.

Neil Manser, DLG's chief strategy officer and former managing director of the group's commercial business, NIG, has been acting as CFO since January.

Chairwoman Danuta Gray said: "The board warmly welcomes Neil Manser as our new CFO. Not only has Neil proven himself to be extremely capable while acting as CFO during Tim's leave of absence but he has also held a number of senior roles across the business, giving him a deep understanding of capital markets, strategy and the culture of the group."

Elsewhere, Direct Line said non-executive director Mark Gregory will become chair of DLG's board risk committee, succeeding Jane Hanson, who will be stepping down, while Richard Ward will take over as chair of the group's remuneration committee and Fiona McBain will become chair of the investment committee.

As of 0905 BST, Direct Line shares were down 0.72% at 288.30p.