The chief executive of Quindell plc’s legal services division has left the company, it has emerged.
The news comes in the wake of the alternative business structure’s announcement that it is in talks to sell one of its operating divisions to generate cash.
Phil Hodgkinson, a well-known figure in the costs and personal injury worlds, joined Quindell in early 2013 after selling it his costs business Compass.
After a initial spell as CEO of Quindell’s costs business, he became chief operating officer of Quindell Legal Services (QLS) in August 2013, and chief executive in January 2014.
He has left to set up Astute Business Management Consultants.
In a statement, Quindell said: “Phil Hodgkinson left his role with the company with effect from 31 December 2014. Having spent almost 12 years building up his own business prior to it being acquired by Quindell plc, it was always anticipated that Phil would at some point wish to return to pursuing his own endeavours. Phil has agreed to remain with the business as a consultant for a period.”
Mr Hodgkinson confirmed to Legal Futures that he has agreed to provide consultancy services over the next three months, if required, as part of the handover.
He added: “It was always my intention to leave the business at this stage, and pursue my own business interests to fulfil the goals and ambitions I still hold, so watch this space!
“On a further note I would like to thank all of the staff at QLS who have worked for me, and with me, in the last two years. They are an incredibly dedicated and hard-working group of people, whose only interest is to provide the best possible service to every claimant they act for. They have been subjected to a huge amount of negative publicity over the last 12 months, not of their own doing, the majority of which was undeserved.
“Their dedication and commitment has remained unaffected, and they deserve a huge amount of credit for their professionalism, for which I thank each and every one of them.”
Meanwhile, the company told the stock exchange last week that on the same date, it entered into “exclusivity arrangements with a third party in respect of the possible disposal of an operating division of the group”.
This was in the context of its statement in December that cash generation remains a key focus and it was pursuing initiatives to improve the group’s “working capital profile”.
The statement continued: “In addition to cash generation initiatives that will continue into 2015, the group is in early discussions with a range of parties interested in exploring possible transactions with the group relating to a number of its operating businesses.
“There can be no certainty that any of these discussions will lead to the disposal of any of the group’s assets.
“Regardless of the outcome of the discussions, the board remains comfortable with the group’s overall cash position. Further announcements will be made as appropriate.”
Having been on a huge acquisition spree in recent years, Quindell has five operating divisions, focusing respectively on technology solutions, legal services, medico-legal reporting, claims outsourcing, and telematics.