Lark directors take flight from board

Lark Group directors Paul Scott and David Waters have stepped down from the board.

Scott and Waters, who have both been with Lark for more than 30 years, have also stepped back from their roles as managing director of the private client division and managing director of the corporate clients division respectively.

Chairman Graham Lark told Insurance Times that the pair would both remain with the group – which is majority owned by Groupama – in some capacity. He said they had decided to change their focus for personal reasons.

Existing board directors David Foster and Mark Woodward have stepped into the vacant roles. Foster will oversee private clients and Woodward will be responsible for corporate clients.

Lark added that the company had no plans to add to its existing board in the near future. “It’s business as usual,” he said.

In the year ended 31 March 2010, Lark posted a profit after tax of £2.5m, compared with £1.4m during the same period the previous year. Meanwhile, turnover rose 4% to £20.6m.