Former Amigo boss walks away from a return to lender
◆ Amigo Loans’ chief-inwaiting has resigned after a disagreement with a majority of the board, writes Michael O’Dwyer.
Glen Crawford told the high interest lender he no longer wished to return to the board and his contract was terminated with immediate effect, the company said.
Mr Crawford had been awaiting regulatory clearance to return as chief executive after resigning last year due to health problems. Amigo lends up to £10,000 to borrowers with low credit ratings provided a friend or relative agrees to step in if they fail to repay.
Amigo said it would appoint Gary Jennison as chief executive subject to approval by the City regulator. Mr Crawford’s departure is a blow to the lender just days before a showdown with its founder James Benamor at a shareholder meeting.
The founder is attempting to install himself as chief executive and turn around the company.