Former HomeServe CFO to replace CEO

THE COO and former finance chief of HomeServe is to become the next chief executive of the home repairs company, after Jonathan King announced his decision to step down early next year in order to pursue a non-executive career.

Martin Bennett, who spent three years as chief financial officer, takes up the role from 1 January next year at a company recovering from a 2011 mis-selling scandal.

Two years ago the company suspended its telesales operations after discovering widespread mis-selling of home protection insurance policies.

The affair has now ended, while the company was buoyed earlier this year when it revealed in its annual accounts that it has set aside £6m to cover the cost of a Financial Conduct Authority investigation into the matter, which was less than originally feared.

Bennett joined HomeServe in 2003 and has been a member of the board since 2009. He was appointed as group chief operating officer in January 2012 and previously held a number of roles across the group’s UK membership business.

Existing responsibilities for risk management, information systems and underwriting will transfer to Johnathan Ford, group CFO, on 1 January 2014.