Insurance investor Randall & Quilter Investment Holdings said that Ken Randall was standing down as chief executive but would continue on as executive chairman.
Alan Quilter and Dr Roger Sellek were to be appointed to the newly-created positions of joint-CEO.
Alan Quilter jointly founded the business with Ken Randall in 1991 and was currently serving as chief financial officer.
Sellek was joins from credit-rating agency AM Best.
At 9:25am: (LON:RQIH) Randall Quilter Investment Holdings PLC share price was -0.5p at 178.5p