CPP’s non-executive chairman plans to step down as ‘rebuilding’ continues

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THE non-executive chairman of troubled card protection firm CPP Group has announced plans to step down after just seven months in the role.

Duncan McIntyre took on the role in January 2014, after joining the CPP board in 2011.

The York-based firm thanked Mr McIntyre for his leadership and guidance, and said it had started the search for his successor.

CPP was fined £10.5m in November 2012 after regulators found it gave misleading and unclear information about credit card and identity theft insurance.

The mis-selling scandal ran from 2005 to 2011, although only a proportion of the policies sold were arranged directly through CPP.

Many customers were sent new bank cards which they had to activate by going through a CPP call centre, where they were offered insurance.

They were persuaded to spend £30 a year to insure their card, or around £80 for an identity protection policy - despite many already having cover provided by their bank or credit card firm.

Brent Escott, the company’s chief executive, said: “We have continued to move forward on our journey to ‘rebuild, improve, modernise and evolve’ the group. As a result of the prudent steps that we are taking and on-going focus on costs, we have continued to stabilise the business.”

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