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BUZZ-Quindell: New CEO appointment affords some reprieve

Reuters - UK Focus

** Insurance claims processor Quindell (Xetra: M6FA.DE - news) up c.4.3 pct & 2nd top gainer on FTSE's junior AIM index

** Names Indro Mukerjee, who has worked previously at Philips Semiconductors, as chief exec, effective Sept. 7

** Former CEO moved to Australian law firm Slater & Gordon after its purchase of Quindell's professional services division

** Quindell has seen major top management exodus, including departure of founder Robert Terry

** Stock has lost c.25 pct in value in the past 7 trading days, after it resumed trading following a 43-day hiatus from market

** Has fallen c. 84 pct since last April when short-seller Gotham City Research LLC first catapulted co to infamy

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** Co under criminal investigation by Britain's anti-fraud watchdog over its past business and accounting practices

** Co also appoints Peel Hunt LLP as nominated adviser & broker, effective immediately (RM (LSE: RM.L - news) : esha.vaish.thomsonreuters.com@reuters.net)