Peter Le Beau will become the sole chairman of the Income Protection Task Force after Clive Waller decided he was no longer best placed to lead the organisation.
Mr Waller said: “Since IPTF was formed my business has become increasingly investment- focused and I no longer have the close contact I used to have with the IP market.
“The Income Protection Task Force requires a chairman who is in day-to-day contact with the income protection market.
“For this reason, I feel it is sensible to let Peter Le Beau assume the chairmanship although I remain deeply committed to the goals and objectives of the task force. I am very proud of the spotlight we have been able to throw on what is still a sadly unsold product.”
Mr Le Beau said: “Clive has done a monumental job during his time on the task force and has been a very wise counsel to me over the last eight years.
“He has a great passion for the product and a deep sense of treating consumers properly, which has been of immense value to the Task Force since it was formed. I hope he will be able to stay as part of the executive going forward.”