LONDON (Alliance News) - AA PLC on Monday announced Chief Financial Officer Martin Clarke has resigned and will be stepping down from his role with immediate effect.
Clarke said "now is the right time" for him to return to his "twin passions" of private investing and politics.
The British motoring association - which provides car insurance, driving lessons, breakdown cover and loans - has appointed Mark Strickland as interim CFO. Strickland will begin in his new role on Tuesday.
Strickland has been with AA since 2016. The company said he has been running the day-to-day finances of the company for the past three years.
AA said it will immediately begin a formal process to find a permanent successor to Clarke.
AA reiterated its guided target to deliver sustainable earnings before interest, tax, depreciation and amortization growth in financial 2020. The company's financial year ends January 31.
Shares in AA were down 3.8% Monday afternoon at 76.80 pence each.