Towergate appoints CFO Egan as interim CEO

TOWERGATE has appointed chief financial officer Scott Egan as interim CEO, following news of David Ross’ departure.

Ross was unveiled as the new CEO of Sierra Investment Holdings, a Towergate investment vehicle, Post reports.

He will become CEO of Towergate following a “transition period”, lead investor Highbridge Principal Strategies said.

Alastair Lyons, chairman of Towergate who has fulfilled this role since Mark Hodges resigned last October, will revert to that of non-executive chairman.

Commenting on these moves Alastair Lyons said: “We are fortunate to have someone of Scott’s capability, experience, and knowledge of Towergate to take the business forward. Towergate is also delighted that Highbridge has secured someone of David’s market standing and track-record to become Group CEO.”

Scott Egan added: “I am looking forward to implementing the plans for which the agreement announced on Friday between our lenders provides a strong stable base to support the completion of the change programme and the further growth of the business.”