Morgan Cole chief exec quits

David Main steps down amid management overhaul at troubled firm

Morgan Cole chief executive David Main has left the firm amid ongoing turbulence that has seen more than 40 partners leave since its inception in 1998.
Main, 51, joined Welsh giant Morgan Bruce in 1997 and played a pivotal role in its merger with Cole & Cole. However, the merged firm has since struggled to manage and integrate a firm of Morgan Cole’s size and diversity.
The firm said in a statement today that Main had stepped down as a result of management and strategic changes now being implemented of which he was one of the key architects. Its12 practice areas will now report to two practice area directors instead of the current four divisional directors. Philip Jardine and Alison Sarsfield-Hall have been nominated by the board for the new posts. The firm also plans to appoint two external non-executive directors to assist it in the next phase of its development.
Chairman John Cole said: “David has very ably spearheaded the first phase of our repositioning. His tenure has coincided with a period of profound change within the firm and in particular David was significantly involved in the development and adoption of our national strategy and in the successful implementation of that first phase of its delivery. With that work now complete, and the way set for the next phase of development, David has decided to move on to pursue other opportunities.”