Direct Line Insurance Group plc announced that Penny James has agreed with the Board that she will step down as Chief Executive Officer with immediate effect. The Board is initiating a process to identify and appoint a successor CEO. Until that process is complete, Jon Greenwood, currently Chief Commercial Officer, has been appointed Acting Chief Executive Officer, subject to any additional regulatory approvals.

Penny will assist with the process of transition to ensure a smooth handover of responsibilities. Jon has a successful track record in leading Commercial business and as Chief Commercial Officer has deep understanding of the Group.