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Evening Standard

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Michael Hunter

Direct Line chief Penny James is out after divi and buyback axed amid claims surge

Direct Line John Greenwood

Penny James, former CEO of Direct Line
(Picture: Direct Line)

Direct Line’s Penny James became the first FTSE 350 chief executive to step down in 2023 today, in a sudden departure just two weeks after the insurer warned on profits and scrapped its dividend.

The company said James was leaving the top job “with immediate effect”. She was in charge for almost four years. Its current chief commercial officer, Jon Greenwood, will take over as acting CEO during the search for a permanent successor.

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