UK insurer had recently issued a profit warning and scrapped its dividend

Direct Line chief executive steps down

The chief executive of Direct Line has stepped down, two weeks after the company issued a profit warning and scrapped its dividend.
The insurance group said on Friday that Penny James would leave immediately and that Jon Greenwood, the chief commercial officer, would become acting chief executive.
“It has been a privilege to lead Direct Line Group for nearly four years,” said James. “While the business was impacted by significant headwinds at the end of 2022, the group has continued to make strategic progress.”
This story originally appeared on: Financial Times - Author:Oliver Ralph