Esure left running on empty as chief executive Stuart Vann quits top job

Sheilas’ Wheels owner esure is hunting for a new boss after the sudden exit of its veteran chief executive on Friday.

Stuart Vann, who’s led the firm since 2012, has left with immediate effect after the car insurer decided to look for a new leader more steeped in digital world.

Finance boss Darren Ogden, who has taken over as caretaker manager, said: “The pace of change is continuing to build. I’m here to give continuity. Stuart and the board decided change is necessary so why should Stuart hang around and run the risk of treading water.”

Esure founder Sir Peter Wood, who owns 31% of the group, is helping to lead the search for a “world class leader”, according to Ogden.

Shares in the business have underperformed peers in the car insurance sector recently.

“We are a little surprised that this seems to be a sudden rather than a smooth change, given that Vann does not remain chief executive while a successor is found,” said Numis analyst Nick Johnson.