CII seizes control of PFS board
The Chartered Insurance Institute Group has appointed a majority of directors to the board of the Personal Finance Society in a move labelled 'disingenuous'.
The CII Group board announced today that three institute directors would join the PFS board with immediate effect, bringing the total number of board members up to five PFS member directors and five 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.
The move has been labelled a takeover of the board by some in the industry, which was vehemently denied by CII
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