Tim Heavisides is stepping down from the chief executive’s post at Car Care Plan Group at the end of this year.
After 34 years’ service with the company, Heavisides will become its chairman, while chief operating officer Paul Newton will become CEO from January 1.
Newton has more than 25 years’ experience operating at board level in a variety of financial services industry, including the last 13 years with Car Care Plan where he has held a number of board level positions.
He will take responsibility for the company’s continued growth and relationships with its manufacturer, dealer and affinity partners in the UK and overseas.
Heavisides said: “I’m proud to have played a part in developing Car Care Plan Group’s enviable position over the past 34 years.
“Paul and his team will continue to build on these solid foundations and I’m pleased to be able to continue to support the business in my new capacity. Paul will make a significant contribution to our continued growth and we welcome him into his new role.”
Newton said: “We partner with 25 major automotive manufacturers and over 1,000 dealer groups in 26 countries through 5 regional offices and have built the role model for warranty and associated insurance services internationally. I’m looking forward to working with our clients and our teams in all markets to deliver continued success for our partners.”
Car Care Plan Group is a division of AmTrust Financial Services.