Quindell share price edges up as it appoints Indro Mukerjee as chief executive

Jessica Morris
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Mukerjee said he recognised the challenges insurance outsourcer Quindell has faced (Source: Getty)

Shares in embattled insurance outsourcer Quindell rose 2.15 per cent after it announced it had appointed a new chief executive, two months after the departure of Robert Fielding.

Read more: Four things we know about Quindell's new chief exec

Indro Mukerjee will start his job on 7 September. His appointment came as the company's business and accounting practices were being investigated by the the Serious Fraud Office (SFO), while the Financial Conduct Authority has also said it's probing auditors involved in Quindell's financial results.

"I'm of course aware of the challenges the company has been facing and respect the chairman, board and rest of the team for the way that they have been identifying the issues of the past, and dealing with them resolutely and rapidly," Mukerjee said.

"My immediate priority will be to identify how to drive the development of both to serve our customers and create value for our shareholders."

Mukerjee is currently a non-executive chairman of FlexEnable, and previous roles include chief executive of Plastic Logic, where he overhauled the business.

Richard Rose, non-executive chairman of Quindell, said: "He has a proven track record of creating value through developing and implementing strategies based on matching compelling value propositions to growing markets.

"His experience includes roles in complex environments, often involving fast moving technologies."

Fielding stepped down when the company sold its legal division to Slater & Gordon for £640m.

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