Andy Morris is stepping up from director of finance and risk to succeed Paul Hudson as CEO of Cirencester Friendly seven months earlier than originally planned.
In September of last year the income protection (IP) provider revealed Hudson would retire as CEO in April 2023, at which point he would have been leading the mutual for 26 years.
However, Cirencester Friendly told Health & Protection that Morris (pictured) will take over as CEO from 9 September – earlier than planned as all of the necessary regulatory approvals have been granted.
His appointment was first announced in April of this year.
Morris will be replaced as finance director by David Evans, who was previously at Nationwide. And board chairman John Quinn has announced he will be staying on for an additional year to provide continuity during the changeover.
Morris will also be standing for election to the board of the Association of Financial Mutuals (AFM) and if successful will replace Hudson to continue the society’s long association with the mutual trade body, the insurer said.
Morris said: “Paul has done a tremendous job leading Cirencester Friendly for more than 25 years. Paul leaves us in a robust financial position with excellent relationships with advisers and an engaged and well protected membership.
“I am very excited at the prospect of harnessing the potential of the society for the future and we will continue to work hard to help advisers promote and sell income protection, pay claims, and deliver long term value to our members.”
Hudson added: “I have thoroughly enjoyed my time at Cirencester Friendly and I’ve relished the challenge to build a small business into a successful one with strong values for the benefit of its customers and the reputation of income protection.
“So much has changed within the business when I became CEO things were much simpler then with very limited technology.“
He added: “It’s been a pleasure to have worked with so many wonderful and dedicated people over the last 25 years – at Cirencester and across the wider industry – who have tirelessly sought to provide financial protection to so many customers. I know Cirencester will go from strength to strength under Andy’s leadership.”
John Quinn, chairman of Cirencester Friendly, added: “We’ve been in the income protection market for over 130 years, but the society has grown out of all recognition under Paul Hudson’s inspirational leadership.
“I’d like to thank him for his outstanding service to the society and its members for the last 25 years. I have been chairman since 2016 and it’s been great working with Paul.
“The board has asked me to extend my tenure by one year to provide continuity while the society moves to the next exciting phase of its history under Andy Morris’s leadership. I know that Andy and our dedicated staff will continue our proud tradition of being there for our members when they need us most.”