The EGM is set for April 23, the day that regulation starts for claim management firms. There are at least four or five names in the running for the position.
In a statement to the CSC executive and members, Twambley said: “Due to a change in my own business strategy, I feel I am not able to commit to the role full-time.
“At this crucial time before the Compensation Act, I think that it is right that I let someone else take on the role who is better placed to represent the members to the Government.”
CSC spokesman Andy Wigmore says it is important that the new chairman can commit a considerable amount of time as the organisation changes from a supervisory position handling consumer complaints to being a trade body.
Wigmore says most member firms have already received regulatory approval.
He warns that firms which fail to meet the regulatory requirements by next Monday will be expelled from the organisation.
Wigmore says: “My concern is in ensuring that all members meet the regulatory criteria. If not, they will be expelled by the council as they have had ample opp-ortunity to get ready.”