Brightside Group announces Paul Williams to its Board as upcoming CEO

– UK, Bristol – Brightside, the specialist insurance broker, is pleased to announce the appointment of Paul Williams who will be joining the Board as Chief Executive Officer early in 2014.

Williams joins from Towergate Partnership Ltd, Europe’s largest independently owned insurance intermediary with turnover in excess of £2 billion of gross written premiums, where he is a Director on the Retail Executive Committee responsible for all insurer and market relationships across the retail broking businesses. Williams, who has been with Towergate for almost a decade, has held several senior management positions running numerous teams within the insurer’s broking businesses.

Today’s appointment marks a new phase in Brightside’s growth cycle. In the opinion of the Board Brightside remains to be an undervalued, dividend paying growth stock with an enviable balance sheet. Williams’ breadth of leadership experience and market knowledge will benefit Brightside greatly at what is a highly compelling stage in the top 20 UK insurance broker and financial services’ history.

Incumbent CEO, Martyn Holman, will step down on 28 November and Paul Chase-Gardener, Finance Director, will act as interim CEO.

Commenting on today’s news, Chairman Chris Fay said: “It is with pleasure I announce today’s appointment of Paul Williams; a highly regarded operator in our industry. Following a thorough recruitment process we are absolutely delighted with this outcome. Paul brings a wealth of market and industry experience and knowledge to the role. His appointment will ensure continuity in the implementation of the Brightside growth plan and the team looks forward to working under his leadership.”

“At this juncture, and on behalf of the Board, shareholders and staff, I would like to thank outgoing CEO Martyn Holman who has dedicated the last 11 years to making Brightside the leader it is today. We wish him the very best of luck.”

Commenting, Paul Williams said: “Brightside has a powerful combination of insurance brands and products, operational skills, understanding and a national reach that gives it a strong platform for future growth. I am looking forward to working with the committed team and leading the business into the next phase of its development where I will remain focused on delivering compelling customer propositions, significant and sustainable growth and shareholder value.”

About Brightside Group plc

Brightside Group plc, (AIM:BRT) is a fast growing insurance broking and financial services group. The Group specialises in delivering market-leading insurance solutions to individuals and businesses. The Group is focused on customer service and operational excellence, adding value for policy holders and business partners alike across all classes of insurance.

Brightside and its associated businesses distribute insurance products online and through UK-based call centres. The Group’s insurance activities are complemented by its financial services businesses.

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