Jonathan King is quitting to pursue a non-executive career, the firm announced yesterday. He has steered the firm through several investigations into its selling practices, which saw the firm fined £750,000 by Ofcom last year.
Homeserve has set aside £6m as it braces itself for a separate penalty from the Financial Conduct Authority.
Martin Bennett, currently chief operating officer, will take over King’s role at the end of the year. Richard Harpin will remain chief executive of the group, which also includes businesses in the United States, Spain and France.
“I leave a customer focused organisation in the UK that has a clear plan in place to stabilise its customer base and increase both customer acquisition and retention this year,” said King in a statement yesterday.
Last month, the firm said it was confident that it could add 200,000 new customers in Britain this year, having overhauled its sales tactics.
Shares in Homeserve closed down 2.4 per cent at 235.2p yesterday.