Quindell buyer Slater and Gordon's UK chief executive steps down

 
Jessica Morris
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The Australian listed firm has seen its share price fall by over 90 per cent in the space of a year (Source: Getty)

The UK chief executive of the law firm which bought the professional services of arm of embattled Quindell last year has stepped down.

Neil Kinsella was the first chief executive of Slater and Gordon from 2012 to 2013, after it took over Russell Jones and Walker (RJW), before becoming its interim head of general law. He was previously a managing partner at Russell Jones and Walker from 2001 to 2012.

Andrew Grech, managing director at Slater and Gordon, said: "After working on a succession plan with Neil Kinsella for the last few years he has now decided it is time to retire from the Slater and Gordon business."

It comes less than a week after the law firm revealed it was considering closing offices in Failsworth and Derby, putting 51 jobs at risk.

In the space of a year, its shares have tumbled by over 90 per cent, to around just AU$0.59 today. They were pummelled by the UK government's planned changes to personal injury law which will make it harder to claim for injuries from road accidents.

Slater and Gordon raised eyebrows in the UK when it bought embattled Quindell's professional services division last year. It faces a possible class from a rival law firm due to its "devastating" share price drop since the acquisition.

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