After a board meeting held yesterday, Rodney Westhead, chairman and interim CEO, said: "Following the tragic death of Phil last week we are very aware of the need to unite as a team and continue to move the business forward. I have been immensely impressed by the resolve of all the staff at Carter & Carter to do just that.
"We will not be making a hasty decision. I have very capable support from the senior management team of Peter Marples, business development director, John Green, finance director and Nigel Kirkham, chief operating officer, and it is clearly important that we go through the proper process to ensure we appoint the right individual to the job.
"We will be looking internally and externally for a CEO and have appointed headhunters to assist us in our search."
The company said it expected its financial results for the year ending July 31 to be in line with expectations.