PFS blindsided over CII board takeover
The Personal Financial Society was blindsided by the Chartered Insurance Institute Group adding three new directors to its board yesterday.
This would bring the total number of board members to five PFS member directors and five CII Group institute directors.
However after the required 30 day consultation period has elapsed, the CII intends to appoint a further institute director to the board giving it a majority with six.
Insurance Age understands that the president and CEO of the PFS were called by the CII Group telling them of the decision to flood the board less than 40 minutes before the CII Group informed members and sent an
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