Booth will be leaving R&Q as of 30 June this year to take on alternative opportunities.
Group founder and deputy chairman Alan Quilter will re-assume the role of group chief financial officer, a position he had previously held.
Other changes include, Mark Langridge, who serves as CEO of insurance investments, will be appointed to the group board and will continue to be responsible for group-wide legacy acquisitions and management.
Randall announced he would continue as group chairman and CEO.
Randall said: “We are today announcing a number of internal promotions across the group and there is to be some realignment of senior management responsibilities. We have a highly focused, talented and experienced management team and we are all excited about the prospects for growth.”
He added: “The management changes being announced today are designed to enhance business development, capital management and operational efficiency. The simplification of our business following recent and planned disposals, will enable Alan Quilter and I to devote more time to ‘hands on’ business development.”