Crawford returns as Amigo boss after battle with founder
AMIGO Loans has turned to its former boss to lead it out of regulatory difficulties as the embattled lender prepares for life without its founder.
The high-interest lender said Glen Crawford would join as chief executive next month, 13 months after he stepped down as boss to receive treatment for a degenerating spinal condition.
Amigo has been thrown into disarray as its share price has collapsed against the backdrop of regulatory problems and a row between management and James Benamor, the firm’s founder and majority shareholder.
Mr Benamor rejoined the board in December before quitting in March and launching a failed coup against the current directors. He has begun selling the 61pc stake he held through Richmond Group, which has already fallen to less than 48pc.
Amigo has been ordered by regulators to clear a backlog of customer complaints by October. It estimates this will cost substantially more than £35m. Mr Crawford will replace Hamish Paton.