Simon Thomas is to step down as an executive director of Just Group plc after 12 years as group chief financial officer.

The effective date of his departure will be 31 October 2018. Thomas is leaving with the mutual consent of the group.

David Richardson, who is currently group deputy chief executive officer and managing director of UK corporate business of Just Group will, in addition to his current responsibilities, be appointed interim chief financial officer.

Richardson was previously chief financial officer of Partnership Assurance Group plc from February 2013 until April 2016.

The search for a successor for Thomas is now underway, and a further announcement will be made in due course.

Chris Gibson-Smith, chairman of Just Group, said: “On behalf of the board I would like to take this opportunity to thank Simon for his leadership and significant contributions during his time at Just, including his key role in helping the business through the process of responding to CP13/18. We wish Simon the very best for the future.

“I would also like to thank David for taking on the role as interim chief financial officer. We are very fortunate to have someone with his experience and deep understanding of Just Group who can step into the role and ensure the business remains in capable hands during the interim period.”

Rodney Cook, chief executive of Just, said: “I would like to add my personal thanks to Simon for the great support he has given me and the valuable contribution he has made to the business over the past 12 years, while we have worked together to build the company. I wish him and his family all the very best for the future.”

Thomas added: “I have thoroughly enjoyed my time at Just. It has been a privilege to serve on the Just Board over the past 12 years.”