Fry held the his position on the board for three years


Novae Group’s chief financial officer today announced he would be stepping down from the board with effect from 31 October.

Charles Fry joined the Novae board in 2013 and according to chief executive Matthew Fosh he played an “important part in the significant transition” of the business. During the first half of this year, Novae’s profits grew 31%.

Fry commented: “Novae has established itself as a leading specialty insurance company and I am delighted to have played a part in this. I wish Matthew and the rest of the team every success in the next chapter of the Novae story.”

Reeken Patel will be appointed Interim Chief Financial Officer, though he will not in that time join the board.