Anyone who’s been in British insurance circles before 2015 probably needs no refresher as to who Robert Terry is. His brainchild Quindell, where he got the boot in late 2014, previously made headlines for the wrong reasons – from finding itself at the centre of a criminal probe by the UK’s Serious Fraud Office, to being at the opposite side of the fence in a legal action initiated by law firm Slater and Gordon.
The insurance company, which eventually became known as Watchstone Group, is currently embroiled in a court case against the ex-boss himself over a share purchase agreement. The latter, meanwhile, had been busy with the likes of OS3 Digital, which Terry founded and led in his capacity as executive chairman and group chief executive.
Read more: Ex-Quindell boss in new insurance venture
Now it’s been revealed that the head honcho has made his exit. He will, however, adopt a non-executive role on the board, which supported the promotion of OS3 Care Approved chief executive Tim Scurry to OS3 Digital group CEO as well as that of non-executive deputy chairman Steve Scott to non-executive chair effective this month.
“Purely for personal, family, and health reasons, I have informed the board that I am stepping down from all executive and chairman roles in all companies that I am involved in, other than those where the majority of the board is made up of my family – at this time being my family office investment company, Quob Park Limited, and Quob Park Wickham Vineyard Limited,” said Terry in a statement.
“I would like to assure OS3 Digital investors, of which I remain the largest by some margin, still controlling over 75% of voting rights including my family interests, that I believe our investment in the company is in very capable hands with the revised executive team and board in place.”
