Novae Group plc (NVA.L), a diversified property and casualty reinsurance business, announced Friday that its Chief Financial Officer Charles Fry is stepping down from the Board today and will leave the Company with effect from October 31.
The company appointed Reeken Patel as Interim Chief Financial Officer while a search for a permanent replacement is undertaken. Patel will not join the Board of the Company.
Fry joined the Board in April 2013.
The company further said its outlook for the full year remains in line with previous guidance. As previously announced, the Company will provide an update on third quarter trading on November 9.
In London, Novae shares were trading at 769 pence, down 0.77 percent.
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