(Alliance News) - CPPGroup PLC on Tuesday said a new non-executive director will be joining its board at the request of major shareholder Phoenix Asset Management.
Shares in CPPGroup were down 11% at 314.80 pence in London shortly before midday.
The Leeds-headquartered company, which provides identity and credit card protection services, has appointed Simon Thompson as a non-independent non-executive director with immediate effect.
Phoenix Asset Management holds a 37% stake in CPPGroup and requested Thompson's appointment.
CPPGroup Chair Richard Lapthorne said:"Simon has considerable experience of working in the financial services sector which we hope to use to good effect as we continue to expand our product offerings, notably in India and the UK."
By Anna Farley; annafarley@alliancenews.com
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Cppgroup (CPP)