Fitch warns of uncertainty at Towergate after Hodges’ departure
Ratings specialists flag that time to taken to appoint new CEO could impact strategy.
Ratings agency Fitch has warned that the resignation of Mark Hodges as CEO of Towergate has heightened uncertainty around the group.
In particular, the ratings agency said there was concern around the group's ability to generate cost savings under its strategic reorganisation.
It also noted that the speed of delivery of the transformation plan will be influenced by the time taken to appoint a new CEO and that this could slow the process down.
Fitch added: "It is also possible that a new chief
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