The Ardonagh Group has announced that David Newman will be stepping down as CEO of Carole Nash at the end of March.

Ian Donaldson will take the helm of the UK motorcycle insurance broker, alongside his responsibilities as chief executive of Autonet, subject to regulatory approval.

Ardonagh completed its acquisition of Carole Nash at the end of last year.

Donaldson said: “Carole Nash is a hugely important part of The Ardonagh Group family and is a well-run and dynamic business with bags of potential to take an even larger chunk of a market in which it is so well known.

“Together with Autonet, we employ over 1,000 people across Manchester, Stoke-on-Trent, Altrincham and Dublin and already we are working quickly to identify the shared opportunities on which this collective force can capitalise.”

Speaking on his departure, Newman said that it was “absolutely the right time” for him to move onto the next phase of his life and career. 

“I have been privileged to work with a fantastic team at Carole Nash and together we have taken the biggest motorcycle insurance broker in the UK and Ireland into a new and exciting chapter, one which I truly believe will see real benefits for clients and exciting opportunities for employees,” he remarked.