THE former chief executive of software giant Sage's Northern Europe division has been appointed the head of York-based credit insurance business CPP Group.

Paul Stobart, who left the Newcastle-based FTSE-100 company in April after 15 years, will next month take over from Eric Woolley at CPP, which is currently under investigation by the FSA.

Charles Gregson, chairman of CPP Group, said: “Paul has an excellent track record and brings significant, relevant experience to CPP following his 15 years at Sage.

“He understands the mechanics of a customer-focused, high service business and his very strong financial and operational background will be of great value to the group.”

Stobart said: “I am delighted and excited to be joining CPP at such an important stage in its development and am looking forward enormously to working with Charles and the CPP team.”

CPP Group said last month that the FSA investigation, which led to the suspension of phone sales of its identity protection products, had impacted negatively upon its financial performance.

Stobart qualified as a chartered accountant with PwC, spent five years in corporate finance with Hill Samuel and worked at marketing consultancy Interbrand before joining Sage.

Stobart and Sage finance director Paul Harrison were among three internal candidates in the running to replace Sage co-founder and chief executive Paul Walker when he left the firm last year. The job was taken by Guy Berruyer, head of Sage’s mainland Europe and Asia operations.